Watercress Vietnamese Restaurant (a few doors down from Full Tilt) officially had its grand opening on February 9th. According to the buzz on the Columbia City Facebook page and the initial reviews on Yelp, it’s worth the trip.
The full menu, as well as photos,
is up on their website.
Columbia City Source 
Tried it yesterday. Had the Veggie Pho. It was good. lots more veggies than you get at other places. Nice folks and the place, nice decor.
We’ve been twice, and although there seems to be some new restaurant timing issues to work out the food was really delicious. Both times the owner has come over to say hello. I definitely recommend this place.