Olde City can be pretty awful on weekends- bros and jersey girls out in their tacky finery, driving their SUVs drunkenly around tiny streets.
Paddy's is a cool little hang over from the areas industrial past. You can get a reasonably priced pint, have a smoke and chat a little.
I don't come here often as a destination, but I'll frequently pop in to get some relief from the rest of Olde City if I'm doing something there. It's a great place to go to after plays or dinner.
Pros: gets you out of the Olde City atmosphere
Cons: pretty much a dive