Oyster Bay is decorated like a movie restaurant... one where the protagonist's wife gets hit on by an islander and the sunburnt tourist gets slapped around by the snobbish maitre d, like in any vacation comedy from the 80's.
The desserts are great, the main courses so-so. There's no dress code, though it appears like the restaurant is aiming at a more upscale vibe than is actually achieved. The signature dish, oysters, are reasonably priced, but be warned: service can be slow.