Very much one for the tourists during the Edinburgh Festival, I would say. For some reason people drape themselves in old blankets and strut about the city pretending they have just stepped out of "Braveheart" at that time of year. The tourists like it though.
The bagpipes sound genuine although I'm not sure if the tune doesn't come from the Last of the Mohicans - http://www.youtube.com/watch?v=HWGRnHOhGiE - the drums are about as Scottish as roast beef and Yorkshire pudding apart from the celtic one which owes more to Irish culture and the Corries.