I'm living there now. It is my favourite European city. Don't get me wrong. London is just as good if not better. BUT it is far too expensive. I couldn't have nearly as comfortable/fun a lifestyle living back home. I'd also be happy to answer questions about Germany, but please keep it Prussian, I greatly dislike most other regions.
It is if you like your lager. That and waiting around iin long queues. My tip ifc you're in Munich, go to the non German tents (Aussie is my fave). They don't care if you don't have a seat to serve you, unlike in the Bavarian ones.
That said my favourite alcohol festival was the Great British Beer Festival in London. Too messy.