While I enjoy good service, just having the server constantly ask "is everything ok?" doesn't constitute good service. One meal I was having, we had at least 20 visits to our table. If you are having a conversation, it is really annoying to be interupted incessantly.
I think a server should come back 5 minutes after the meal is served and ask if you need anything and if everything is ok. The server should let the customer know they will be available if the customer needs anything, and then keep an eye on the table. Coming back every 5 minutes is not needed unless they notice an empty drink glass, empty plates, etc. Coming back constantly just to ask is everything ok is redundant and intrusive.
I do realize this may be the policy of the restaurant and not under the server's control. Some of these establishments need to get a clue. If I wanted to be interupted constant, I could stay at home and wait for the telemarketing calls.