I lived there for 2 years.
People who are saying it's overpriced/overhyped/whatever never knew any locals and only saw the materialistic and tourist side of Singapore. They had their noses deep in their safe little tourist handbooks, following their wallets from overpriced restaurant to overpriced club.
Get with the locals and find the good spots to drink and eat. Singapore is an amazing place if you dig a little under the surface. Hawker stalls and tiger beer never disappoint.
In fact, I went to school over there with Turbolapp, if she is still around these days...