I have been to the west-side Cobras a couple of times, but cannot stand the ridiculous noise level and super-tight space. Not only are the acoustics terrible, but they blast music from speakers that hang in every corner of the space - too much.
So I was hoping that this new location would provide more space and better acoustics. I got my wish. The Los Feliz Cobras & Matadors is simply decorated: Red lamps, black walls and gray floors. The space is nice and spacious, the tables are not too close together and you can actually hear yourself talk!! For only being open a few weeks, the service was good; it was packed, and our waiter was doing his best to accomodate everybody.
Though they sell their own wine and there is a $15 corkage, there are plenty of good Spanish reds from $20-24, not bad at all. The menu is pretty much the same, with a few exceptions I think but I couldn't tell you what - it just looked bigger. We had raisin bread with goat cheese and spanish ham (excellent, my favorite on the menu), a similar dish but with plain french bread, machengo cheese and smoked ham, the roasted vegetables, fried calamari, eggplant spread, chickpea crepes, and mini churros with chocolate sauce for dessert. We also had two bottles of wine - total, for four people, including tip came out to $129, or $33 per person. Needless to say, we were stuffed!
The roasted vegetables and eggplant spread were so-so, but everything else was delicious. I would highly recommend the chickpea crepes and the fried calamari, as well as the raisin bread/cheese/ham dish. Sorry I don't have the specific names for these - I should have grabbed a menu.
In short, I would give the new Cobras a thumbs-up!