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Expect the Velvet Lounge to be transformed into something resembling a cross between the Grand Ole Opry and Caesars Palace tonight by Sharky Favorite. The former member of local indie-rock-cum-musical-theater group Viva Satellite left D.C. for New York and is back in town for a one-night stand en route to recording an album at Warrenton, Va.,’s Stillness Sound Facility. He promises an old-school, all-out-show-business performance inspired by his love of live Tom Jones sides and featuring moves that would be at home in an Elvis show from the ’50s or the ’70swith a few country love ballads and maybe a costume change thrown in for good measure. Word is he’ll have to go all the way to compete with the onstage pyrotechnics of tonight’s headliners and fellow New Yorkers the World/Inferno Friendship Society. Also with the Milk-O-Matics at 9:30 p.m. at the Velvet Lounge, 915 U St. NW. $5. (202) 462-3213. (Daniel Searing)