I went to see the Cinema 1 sell-out show of Dziga Vertov's Man with a movie Cmaera accompanied by the Cinematic Orchestra and also to Mike Figgis' Timecode. The Cinema was in good condition, the event organisers had to instal a new electrical circuit at the councils insistance due to the building's own being no longer up to scratch with current legislation. Apparently old buildings have some leeway in this respect untill they close even for a short amount of time. The AV-eon event did not occur because the council had doubts about the floor being able to cope with dancing.
These events were great - it made me think that it would be a good city resource for irregular one off events - festivals etc. There was a really special atmosphere.

The last rumour (of many) I have heard about the future was that a department store is planning on moving in. Given the success of these recent events though there may be hope for a better solution.