Steak Diane is a pretty rich sauce, so there’s no need to waste money on a high dollar thick-cut steak or perfect A5 wagyu. But you also can’t go bargain basement because the tough chew isn’t going to go well with that sauce. It meshes best with a tender and slightly thicker cut of meat. My best bet is a middle of the road average priced ribeye or NY strip, or a nicer sirloin.
To flatten or not to flatten
Steak Diane was originally prepared tableside, so the traditional preparation required tenderizing the steak to flatten it. Flattening the steak allowed the waiter or chef to cook the steak to the desired doneness (which was almost always medium or higher back then) quickly and without an oven.
Just for fun, I tried flattening the steak, though with a rolling pin, since we don’t own a meat hammer. The end result was a steak that wasn’t all that much more tender and way less satisfying to eat. I think our modern palate is too used to thicker steaks to appreciate 1/4″ thick cuts of beef these days. I don’t think flattening is a good idea.