I've lived in PS for four years now and I have NEVER been able to figure out what's up with 7th Avenue. A whole 30-block stretch with maybe 3 decent restaurants. It's a yuppie 'hood (witness what's happening on 5th Ave) but, oddly, a high income does not guarantee a discerning palate. Most desturbing is the Chinese owned, operated and flavored Japanese, Thai and Vietnamese restaurants. No, that's the second most disturbing. Number 1 is the terrible but overpriced joints that the yups queue up for on weekends (that bad Italian joint at 5th and Dizzys on 8th Ave).
Exceptions to the dreck on this street are Max & Moritz (superb), Java, a usually decent Indonesian restaurant (it has it's ups and downs) and Mr. Falafel.
As I don't live on 5th Ave or Smith St. the gentrification and its accompanying restaurant choices have been welcome, to a point--I hope Blue Ribbon's arrival doesn't signal the beginning of the end of reasonably priced food in the hood.