IT's a very nice building and, from some angles, looks a bit like a mini Four Seasons Centre.
I have yet to be inside since it was finished but the acoustics are supposed to be great too.
In reference to some stuff mentioned upthread - the town is looking at whether to move town hall to the Major Mac/Yonge corner where they own the land. The costs were still estimated at something crazy like $150 million and they were wary of jumping at that, especially in this economic climate.
I expect it will happen in the long term, however.
The new Tridel condo which was debated and at the OMB ad infinitum is also looking great and is a great example of a developer working with a community to come up with something appropriate.
And as for the parking, I agree about the one surface lot beside the property. But don't forget the frontage is on Yonge Street and parking there is a real bitch. The town is trying to link all the isolated rear laneways to create a parking system in the rear (on both sides of the street). In that context, the rear lot for the theatre makes sense.