In Bryan's Words
The Filet Mignon is undeniably the most tender cut of all; truly in a class all its own with regards to this characteristic. The Filet rests protected within the loin (immediately along the New York Strip) and this almost complete lack of motion when in pasture accounts for the inherent tenderness of the steak. Generally, this is a much smaller steak then all of the other premium steaks (with the exception of the Saratoga Rib Eye), usually only 3” to 4” in diameter. But this small size is also a big plus because you can get a nice thick steak without a tremendously large portion.
If there is a negative to this steak, it would be that it will not deliver the intense flavor that some of the other steaks do. But herein lies the subtle beauty of this cut; it provides the perfect blank canvas for a number of finishing sauces such as the Porcini Mushroom sauce or even a drizzle of veal Demi.
Contrary to what you might have heard, the best way to determine the cooking time on a steak is by the thickness, rather than the weight.
On the Grill:
1” – 8 minutes total; 5 and 3
1¼“ – 9 minutes total; 7 and 3
1½“ – 10 to 12 minutes total; 7 and 4
2” – 12 to 14 minutes total; 9 and 4
2½“ – 14 to 16 minutes total; 10 and 5