I've been looking forward to trying this for awhile. Not because it's DFH (in fact, I've been a bit underwhelmed by their recent specialty beers) but because of the granola. Would granola in beer taste good? Could I even taste the granola?
Only one way to find out.
Look-Deep amber with a healthy head of foam.
Smell-Slight (and I mean SLIGHT) hop in the nose. That's basically it.
Taste-Hops is up first. In addition, I get a sweetness and it's definitely malt forward. 
Mouth-Medium bodied. Dry in the mouth and finish with a sweetness that lasts throughout. I guess I get the granola on the swirl...could be wishful thinking.
Overall-As an east coast IPA, it's good. As a specialty, it's mediocre. Adjust your expectations and you'll be satisfied.
About American Beauty:
More than 1,500 loyal fans of the brewery and band suggested an ingredient idea and the Dead-inspired story behind it. Our favorite was granola, from California Dead Head and craft beer lover Thomas Butler. “The components of granola – honey, toasted grains, oats and fruit – offer a lot from a beer perspective,” says Thomas, a chemist by day, homebrewer by night. “The idea is to have a bold pale ale that highlights the oats and honey with a nice ‘dank’ hop selection.” American Beauty is brewed with all-American malts and hops, granola and little bit of soul. It’s malty with a big hop kick, and notes of toasted almond and honey round out the flavor profile and balance out the hop bitterness.