I'd much rather go to the Red and the Black over the VL, if just because of the upstairs bar and the lack of surly bartenders.
seriously, redsock? the surly bartender comment may have been accurate pre-2007, but when i was booking and managing the velvet from 2007 to late 2008, we did not have surly bartenders. i bartended three times a week, and even though i may be opinionated, i am certainly not surly. and neither is the rest of the staff. also, the velvet's sound system and booking are far superior to the red and black. there is no comparison between the two venues, except that the red & black serves shitty food and the velvet serves no food.
the velvet lounge is a completely different place now than it was before 2007. the only thing that remains is that we still run shows late.