I flew IB business class MAD-LAX earlier this year. I found the lounge at MAD perfectly fine, actually. Obviously not Al Safwa, but perfectly fine for what it was. Even good. The flight, however, had food that I consider unacceptable in Y. It was just awful. The seats weren't great. Not terrible, but not good, either. I'd give the seats a C. Based on my one experience, I would (and will) go out of my way to avoid Iberia in the future.