I haven't eaten anything but their tapas for as long as I can remember, so can't comment on the paella, zarzuella, or others.
The tapas can be hit or miss. Usually quite good are the sardines, gambas a la plancha, tortilla, and mussels. Like I said, usually; I've had the shrimp underdone a coupla times and the tortilla hardly warm, etc.
Don't expect a beautiful, quiet dining room, its touted as a social club first and a restaurant second and can be raucous (partly why I like it...). They feature flamenco dancing Wednesday nights (I think around 10pm or so and it fills up early).
My small clique stop in Sala Rosa from time to time. Some of my frineds like Sala Rosa over Club Espagnol. Me, I prefer the Club.