I've heard of this before and it's not a terrible idea. Sometimes you just need to put the numbers and charts away and just see what's happening in the real world. Reminds me a little bit of the Big Mac Index.
I can vouch for this. I spent a night in Biloxi, MS about a year after Katrina and we struggled to find any restaurants that were open, or even still standing. On the other hand, the approximately 7 Waffle Houses in town were still standing and definitely open.
We opted for the Hard Rock Casino buffet instead.
"To give anything less than your best is to sacrifice the gift." Steve Prefontaine