The Nighthawks were Calder Cup finalists four times: 1974–75, 1977–78, 1978–79 and a dramatic, unlikely playoff run in 1988–89 when they finished fourth in their division yet won two exciting playoff rounds before succumbing to the Adirondack Red Wings in the finals in five games.

Those same Red Wings would take the Hawks out again in their last post-season before becoming the ill-fated New Haven Senators in 1992–93.

Notable players for the Nighthawks include former New York Islanders greats Chico Resch, Bobby Nystrom; ex-Boston Bruins Willie O'Ree and Billy O'Dwyer; Tom Colley, the franchise's career leader in games (534), goals (204), assists (281) and points (485); career penalty minute leader (688) Al Tuer; ex-WHA star Bobby Sheehan, Cam Connor, Bernie Nicholls, Blaine Stoughton, Mike Rogers and Glenn Healy.

The team was notorious for a revolving door for personnel holding the AHL record for players used in a single season with 62 in 1986.

The franchise became known as: The market was subsequently home to: The Nighthawks were runners-up for the Calder Cup in 1974–75, 1977–78, 1978–79, & 1988–89.