I have seen hockey, basketball, concerts (in the round and standard setup) as well as a few special events at Pepsi Center and I can honestly say, I have NEVER had a bad seat.
From down front to nose bleed, you can always see all the action going on. The seats are comfortable. However, they are a bit smaller than some venues so larger people may feel a bit tight. The food is good but of course it depends on what you want and where you get it. I am typically in club level and I love the food and service.
This is a fantastic venue and they did a great job in the design.