I've been to Cayo Coco before too on a Friday night, and the owners sat down to have a drink with us on the ONE table patio. It was OKAY. the food was pretty cheap and decent, but not the best tapas i've tried. I really dislike the area ...right smack in the middle of cluburbia with the S & M crowd who come to the big city to party, act like fools and then go back home to the burbs.
Try Coca on Queen West... I was there last week and the food was pretty good. They serve tapas and pinchos (from northern Spain) Service was a bit absentminded, but overall a good experience. Also try Embrujo Flamenco on the Danforth complete with dance entertainment. Make reservations though. This place gets booked up fast.
I'm bumping this one, as per the thread on tapas in Toronto today, and Juniper's question of Spanish tapas v.s. small-plate dining.
I'm looking for authentic and traditional Spanish tapas and when I walked by Cayo Coco last week the menu looked like it would fit the bill: Olives. Serrano ham. Fried mushrooms. Omelette... oh baby!
I asked about it in a different thread last year and spigot replied:
Cayo Coco's kind of meh; the food is cheapish and passable. I've only been once, and at about 9.30-ish it seemed to turn into a bit of a nightclub, with a dozen people standing at the bar checking each other out. That was slightly weird.