I love the neon of the Famous Oyster Bar, but I've never been there. It's been around forever and about the only thing I can think to recommend about it beside the neon is the location. It always gets uniformly negative reviews on Citysearch and Yelp.
If you are from out of town and are looking for a place to go for oysters, go to the Grand Central Oyster Bar. It's located in the basement of Grand Central Terminal and and I highly recommend it. It's definitely not to be missed if you visit New York City.