One of our favorites is stuck away in a shopping center on Quince, in east Memphis. The name of it is Jarrett's, and it's never failed to please us. Here's a link to their website, where you can get an idea about the food and the chef-owner.
Another one, trendier but always good, is Automatic Slims, on Third, right across from the Peabody.
Tsunami is good/trendy. (Pacific Rim food with new twists.) It's not open for lunch, though. It's in the Cooper-Young area, where there are lots of yuppie type places in one place that won't break the bank and won't embarrass you to take a client there, either. ;-)
Sekisui has a fresh sushi bar I enjoy. There are two locations: one in East Memphis, and one in Midtown. Their full meals aren't too shabby, either!
Edo's (Japanese food) on Summer Avenue is tucked away in a not-very-impressive area, but they have excellent tempura, for example. Yum! The restaurant has been there for over 20 years, and while the area has deteriorated, the food quality hasn't. A jewel.
Erika's is a German restaurant downtown close to The Peabody. I love it! Their weinerschnitzel is to die for, but it's not on the menu every day. You can call a day in advance and order apple streudel. You'll want it again.
A snobby chef friend of mine recommended Cafe Samovar to me. It's a Russian restaurant, also downtown. I haven't been there, myself.