I realize I'm digging up a pretty old thread with this post, but the flag in question (2nd LA Cavalry) is currently on display at the Texas Civil War Museum in Ft. Worth, Texas. It is absolutely fabulous. Must have been captured not long after being issued. It's in very fine condition. I know Texas isn't Louisiana, but it's closer than it was, and at least it's on display so we can all share it.
CB