Grunge band playing here finally shows bite (4)
I believe the answer is:
edge
'bite' is the definition.
(I've seen this before)
'grunge band playing here finally' is the wordplay.
'finally' suggests the final letters.
The last letters of 'grunge band playing here' are 'EDGE'.
'shows' is the link.
(Other definitions for edge that I've seen before include "Golden ingot" , "Force" , "Cutting side as of knife, or margin" , "Side, brink" , "Hem" .)