Monterosso has 2 parts: a new section by the train station and an older section where most of the character is.
The new section has some tourist trap-esque bars and restaurants but there's excellent food and drinks to be found (Cantina di Miky is awesome). The locals are warm and friendly and kind to tourists. Monterosso is mostly known for its beaches and isn't quite as charming as Vernazza down the tracks, but it's worth a look. Monterosso's location at the end of the Cinque Terre trail is a big part of its appeal; it's easy to hike south as long as you like and then take the train back for one single fantastic day.