I haven't had Picanha anywhere else in Madeira, so I can't tell you if this is the best. If it isn't among the best, I would be surprised (although I am told the best one is in Funchal).
Every other review here will explain that Picanha is a cut of beef where they actually char it on the outside. They then carve thin strips off it. On one side, cooked and seasoned; on the other side fairly raw. It might not sound brilliant - but it is.
This is my second time. The last time I swore I would eat less of the beans, bread, cabbage etc. The meat is pretty much unlimited, so filling yourself up on the stodge isn't that smart.
And, whatever you do, leave room for the pineapple which is cooked a similar way. Hot pineapple is delicious and perfect for helping digest a kilo of meat.
If you own or manage Central Restaurant, register now for free tools to enhance your listing, attract new reviews, and respond to reviewers.