I read three Nelson Algren books four or five years ago - this, Walk on the Wild Side and Never Come Morning. I think it was Walk on the Wild Side I enjoyed most, though I agree, they are a touch quaint. Hubert Selby's books are distinctly more unpleasant, for example.
I think someone out of "Walk on the Wild Side" said something along the lines of "You can't be too mean to some people, but you can be too nice", which has always stuck with me.