h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Despite the famous name restaurants in Lyon (Paul Bocuse - cookings great - can't stand the man) Orsi ( - but expensive) and Leon de Lyon (Overpriced - you can get just as good food for half the price in Lyon) the best value for money if you really want a high-class meal has got to be VATEL...

A restaurant attached to a private college offering BAs and MAs in hotel and catering management - which basically means that apart from the head waiter, sommelier and head chef - nobody else is getting paid to work there. The students do all the work, the prices are very affordable (last time I went it cost us about 45 Euros per head for a full menu and wine), and the quality is what you'd get from the best michelin starred restaurants in the world.
The downside? The students are constantly being watched to make sure they get it exactly right technically - so they're always on their guard and looking scared stiff!

Having said that... Living in this city means there are hundreds of excellent restaurants to choose from without breaking the bank (although your waistline does tend to suffer a bit ). If you can avoid the tourist traps it's pretty difficult to find a meal that isn't great value for money out here (after all, with so many restaurants the competitions pretty fierce).