Is it open until 3:00am now?
I read in the Mercury a couple months back the SJPD are experimenting with allowing SJ Night Clubs to have a "late close". They are hoping this will cut down on the late night crowds that result in fighting and vandalism. That being said, I still think that 2:00 am may be the est. closing time.
Also, if your thinking about coming to this event, please try to arrive early. We're expecting a large crowd.