I just did mine in Sept. The ones who never moved away but became at least middle class wore suits and dresses, stood in the lobby by the bar and got hammered. The ones who moved away went inside by the buffet and the seats and were basically business casual.
I wore Alden black cordovan cap-toe bals, gray flannel pants (Brooks), blue Brooks OCBD, and a brown tweed jacket. No tie.
Since the tie crowd started doing kegstands @10, I didn't feel underdressed in the least.