Latin cuisine in Cambridge?
If you mean Latin American...
Green Street no longer does a Caribbean menu; it's now (assuming the brand-new chef doesn't radically alter it) a kind of updated Yankee cooking concept.
Cuban -- great food and cocktails in the bar at Chez Henri, but tough for a crowd that size, as it's popular and cramped, and they serve only French in the dining room
Mexican -- Ole Grill in Inman, which does a kind of gussied-up Mexican food with nice casual atmosphere with good drinks. Forest Cafe for a more casual experience.
Peruvian -- Machu Picchu in Union Square, Somerville. A fun, cheap place with kind of a lively club vibe on weekends, very nice Peruvian food.
Brazilian -- Midwest Grill for churrasco rodizio.
Hope that helps!