Actually one of the cheaper places on the island, the Pickled Onion is one of the hangouts of the young expat community, especially on Friday and Saturday nights, when there is live music after 10pm.
The food is a mixture of U.S. and U.K. (although there are no hamburgers on the menu), with dashes of Indian, Chinese, and Bermudian fish thrown in, and the daily specials add to the variety. When it arrives, the food is normally really good and plentiful. If you have room left after the entree, try the deep-fried cheesecake--sounds weird, tastes divine!
The bar serves the usual range of drinks and also a cocktail menu including rum swizzle and some very adventurous martinis.