Per a picture at the site (link), originally taken about a month ago, Angelo's is still open.
"It will be one of the most sophisticated studios in the world," says their source. The band and the desk will be switched.
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In the long list of restaurants that have been next to the Ed since CBS kicked out Monk's for that Sullivan's fiasco, wasn't there a Steak 'n' Shake at one time (an establishment Dave was familiar with back in Indiana)?
In other words, when standing under the marquee facing the theater doors, Steak 'n Shake is on your left and Angelo's is on your right.