I visited this lounge for the first time the other day. As somebody who used to book with *A, I remember the Spanair lounge well, where the food consisted of a large bowl of crisps. So whilst the food selection in the Velásquez lounge, smoked salmon apart, isn't that great, it's still an improvement for me, and the lounge certainly looks great. The big difference to me was the staff, and their spontaneous interaction with guests. One chap was walking past whilst I was struggling to open my cava miniature, and immediately offered to help. Another one greeted me as I returned to the wine bar, and started explaining to me which of the reds he considered the best, and why. Imagine BA's harried contract staff at the LHR GFL doing that! They could so easily arrange tastings of the food and wine for them, like a good restaurant does, but that's so far removed from their way of doing things.
With its limitations, the food at the Velásquez lounge is perfectly packaged for pilfering, if you're that way inclined, to the point that it almost looks like they're expecting passengers in their meager economy class to do that. Not only are miniature water bottles available, but also miniature cava bottles, crisps, and sandwiches in plastic wrapping. I must admit to pinching a couple of containers of Spanish grated tomato/garlic/olive oil mix for my airline food survival kit.