When in Cape Town...
Go south to Simon's Town to see the Penguins but also be sure to go to Bon Appetit [Simon's Town]. It's absolutely superb and much better than you'd think from just walking by. And the prices are very reasonable.
90 St. Georges Street
I went there early last year but I just joined here...
French food of the most creative and highest quality. Quiet relaxed atmosphere. Very small [8 tables?]. We went for lunch and liked it so much that we hung around until we got hungry again and went for dinner as well! Here's a menu:
though I think it changes. But if you look at the prices it is very reasonable for a 3 course gourmet meal. And drinks in South Africa are very cheap, much cheaper than the States. Trust me you will come away feeling like you got a steal. The average price listed is R132 which is about $19. Absolutely a steal for the quality of food. You'd spend about $80 in New York for the same thing, probably worse food.