There are a number of otherwise excellent restaurants in my area that have stopped accepting reservations entirely and switched to a "first come, first served" model.
I stopped going to those restaurants because of the number of times that I've shown up only to be informed that the wait list is over an hour long and we've ended up having to eat at the greasy spoon down the road because we're hungry and have run out of time.
If I can't make reservations (directly with the establishment -- things like OpenTable don't count), I won't eat at the establishment. The gamble isn't worth it.