Ive been going to Ko Phangan off and on for the last 13 years and while there is enevertable change it's still, in my opinion the most wonderful place in Thailand. However gone are the days of 77THB to the £, we were lucky to get 44THB to the £ and that was for cash! You do get a better rate for TC but it costs 33THB commission.
Beer is bout 40-50 Baht in the shops and bout 60-80 in bars. Food? All depends where you eat and what you want. Getting around can be pricey, for example Haad Rin to Thong Sala is 100THB per person and it was a minimum of 3 people to go.
Sad to see the old Chicken Corner gone, but a new 'street' is already built with a new 'Chicken Corner' opening soon.
It was a first time for us going in March and boy it's hot, and getting hotter.