If you go to Fort Collins there is a bike shop and brewery in the same building, they so to do very well for themselves.
The problem with RD34 is its a collage kid bar. Its not really a cycling friendly place. In the 7 years or so that I have been here I have been in that place once. I like the concept but I would not have put it where it is and I would make it much more welcoming to real cyclists. Not just a place for kids to drink PBRs cheep.
There's also Crankenstein which is a bike shop, coffee shop, and bar.
I've never seen the bike shop part of crankenstein opened before and it seems the do mostly touring/townie bikes. The Road 34 does more mountain stuff and stocks more stuff than crankenstein but both seem to focus more on service. As for the bars both have the ups and downs.