I went to Malacca last year November.
Jonker is nice. Food is great and cheaper than Sg. Drinks are expensive but overall good rustic getaway from city Singapore.
I would go back again, but the travel prices for peak season National Day holidays (and availability) is not to my advantage. So I will be patient and wait for the peak season to pass by before I splurge on a busride+hotel free and easy package to Malacca. Should be worth the wait cos for less than $200 I can stay at Hotel Equatorial which is a rather nice hotel (compared to cheaper alternatives at Jonker street...
But I want to try backpack/budget hotel at Jonker. Anybody got suggestions?