Seems to be the consensus on Yelp that this is a 3 star restaurant. It's definitely worth checking out if you've never been and make sure you have a seating during a flamenco show (definitely adds to the experience).
On this visit we tried the traditional Paella with the bomba rice, the Ceviche, and Gambas en Anis. The only dish that really stood out to me was the Ceviche which i thought was just refreshing and tasty. The rest were just okay, not the best Spanish food/tapas i've ever had but it's decent. We also tryied their red sangria which I though was a little bland and didn't have the traditional fruits in it that I'm use to.
I do get the feeling that the owners of the restaurant are very entrepreneuiral in their prices. I happen to be there the weekend before Valentine's day and they marketed that weekend as if it were really Valentine's day. They had minimum charges per person, you had to secure your reservation with a credit card and no shows would get charged, and removed a lot of the lower price point items from the menu (I know cause I looked at their menu online beforehand). It does feel like you get nickel and dimed which is a bit of a turnoff for a restaurant. I would understand the practices if this were a 3 Michelin star restuarant in NYC but it's not.