Upstairs was an exclusive club called "Over the Rainbow", which still consists of a full bar, a dance floor and a DJ booth.

They brought in co-owners Elmer Valentine, Lou Adler, Mario Maglieri and others,[3][4] opening in late March with a Buddah Records party for NRBQ.

Notable regulars at the Rainbow in this period include Keith Moon, Alice Cooper, Led Zeppelin, Ritchie Blackmore, Micky Dolenz, Harry Nilsson, John Lennon, Ringo Starr, and Neil Diamond.

In the last two decades of his life, Motörhead frontman Lemmy was a daily fixture at the Rainbow whenever the band was not on tour, and often played a video poker machine at the end of the bar table.

Anthony Kiedis of the Red Hot Chili Peppers noted in his book Scar Tissue that he often sat with his father at the club along with members of bands such as Led Zeppelin and Kiss.

In Pamela Des Barres' book Let's Spend the Night Together, the author commented that as a barfly in the early 1980s she met a number of celebrities including Billy Idol.

[15][16] On November 5, 2023 Mikael Maglieri, who was the second-generation owner of The Whisky a Go Go nightclub and Rainbow Bar and Grill, died.