Is The Water Grill as good as it was back in the glory days?
Both places are fine, although I am a bigger fan of Water Grill than Providence.
I like Providence, but I am not as big a fan of the place as many on the board are.
Providence and Water Grill are quite different. Providence is seafood with a French flair; whereas Water Grill lacks the Cal-French accents that Cimarusti has built into his menu at Providence.
Do a search on the boards (just type in "Providence" on the search box) and you'll find lots of reviews.
Enjoy ... wherever you end up.