Food quality is very good. Think modern chef-y Italian instead of mom n pop red sauce Italian and you get the general idea. I'd say 4 stars for the food.
I knock my rating down to 3 stars because of the prices. To me, everything on the menu is priced a few dollars too high, and they really get you with the drink prices too.
If a dinner for 2 with a couple drinks per person here came out to maybe $70-80ish, I'd give it a 4 or possibly 5 star rating. But I can't help but feel that Nostrano is a bit pricey for my general satisfaction level with the food.