I'm currently studying abroad in Madrid, Spain, and last week I had the most amazing experience! I'm usually not on forums, but after the flamenco show I went to last week, I wanted to post something about it : ) That way, if anyone is traveling here in the future, they'll know the best place to go for a spectacular flamenco show.
The name of the club is called Corral de la Moreria, and it's in Sol (a section of Madrid). What a great place! I started off the night with a fabulous dinner, and then the show started right after at 10:00pm (I think there's also a midnight show). I had seen flamenco dancing once before (with my study abroad program when I first arrived in Madrid)... but I soon learned that that was NOTHING compared to what's out there. Corral actually brings in the best dancers from all over the world in order to perform at their club. And the seats are so close!
Of course there are plenty of other, well-known things to do in Madrid; but if you're traveling to Spain soon, make sure to add flamenco dancing at Corral de la Moreria to your to-do list- it's a must see show and a truly worthwhile and cultural experience.