As of New Year's Eve, 4th Street Live! is down a total of 3 bars. Angel's Rock Bar closed January 1st joining fellow closed venues; Mosaic Night club and Lounge (formerly Hotel) as well as Improv Comedy club (closed early in December). So if you're headed down to 4th Street, your options are slim, at least for the next few months, until the new venues are added. Still open are Howl at the Moon, Sully's, Maker's Mark, PBR and Tengo sed Cantina.
It seems to me that 4th street is always opening and closing (more closing than opening) venues. The turn over rate down there has to been unreal. Every 2-3 years Cordish closes a club, revamps it and reopens it under a different name. So what should we expect? 3 new clubs will are set to open, which is great because they will need to hire a new staff and employees. But how long will these new ones last?
My guess is that they'll open in early spring with a bang, be a huge hit over the summer months and then settle back into the 4th street lull. Hopefully they'll survive in this rapidly changing environment, but we will see!