As a young scholar, I've been to a *lot* of graduate pubs for...research purposes and....networking. To those of you who 'just' go to a pub and drink, I'll let you in on a secret: most grad pubs have cheap beer, absolutely terrible food, and 'experimental' music.
In short: most grad pubs are terrible, and you probably don't want to set you foot in them. If not for their close proximity to classrooms and cheap food, I don't think that many of these pubs would remain in existence.
The Grad House at the University of Victoria, however, is a different story entirely. I've brought non-graduate students (read: people with money that can afford to go to 'real' restaurants) here and they are universally pleased with the food. There is a reasonable selection on the menu, catering to vegetarians and meat-eaters alike, and usually reasonably priced drinks. Prices are spectacularly low for the quality of food (catering to the grad student budget), which means you can really stretch your dime.
I'll note one item on the menu (which happens to be my favorite!): the chicken club actually has massive pieces of real chicken in it - you're not forced to stomach cold cut meat that you can get at a grocery store, and is served at many places around Victoria. All of the entrees that I've ordered off the menu are replete with fresh ingredients - you won't have to suffer reheated crap - and the portions are generous enough that a grad student can eat a meal there and just nibble for the rest of the day.
In terms of the environment itself, there is a 'lounge' area along with a more formal restaurant. This means you can choose the kind of 'pub formality' you want (though I will warn you that the couches by the fireplace do tend to fill up quickly). The serve staff is extremely pleasant on most days, though you may have to work a bit to catch their attention every now and again.
In short: if you're around UVic, and want a delightful meal with fresh ingredients and cheap drink, the Grad House is a wonderful place to spend a few hours.