Part of what's mentioned from the article above isn't accurate (the article, not the person mentioning it here) - it's hardly gourmet cuisine, and the seats don't swivel. There are a couple of lounge-style (two sets of seats facing one another with a table in between) setups in business and first, but they don't move that I've ever seen.
I like the service very much, and it's far better than flying. Coach is about as comfortable as coach on a plane, though with more legroom. I don't know what they feed you, though. I usually ride in business (Preferente) and it's very comfortable - 1x2 layout, decent airplane-style meal, a movie, and of course it's all quiet, comfortable, and pretty much hassle-free. You can find web fares as short as two weeks ahead, and they are a bargain - 65€ each way for Preferente. For comparison, the full business fare is 164€ each way, exactly the same as a business fare on the Puente Aéreo.
The AVE has the added benefit of taking you from center to center of each city, instead of adding 70€ worth of taxi and parking for the airports. The total trip, counting getting to the aiport, security, waiting in line, etc., is about the same length for train and plane, but on the train you can get up and walk around, pee in a full-sized bathroom, and enjoy a 3G signal the entire trip.