I had to come back today after that meal last night. The beef pepper rice was indeed pretty good - and with a cube of butter hidden underneath the rice for extra flavor - wow! The beef quality still wasn't great, but nothing to complain about for only S$8 (US$4.50). I especially like the little bits of gristle burnt rice stuck on the bottom of the hot plate at the end.
Speaking of meat quality, the shimofuri marbled fat steak certainly looked great while cooking, but was quite a pain to try to flip over with disposable wooden chopsticks when it was sticking to the platter (use the metal spoon instead). It was also rather thin, but again, for S$14 (US$8.50), there isn't much basis for complaint. It was still the same yummy butter-grilled taste that I would expect.
It was quite crowded today actually, but maybe it's just the initial curiosity factor driving it right now. This place is open until 11 PM (10 PM on weekdays), so I'm sure I'll be coming back a lot - probably in the off-hours to avoid the crowds.