One other possibility: I've not seen much discussion about the restaurant at Le Saint Gabriel on St Gabriel in Old Montreal. But Eric Gonzalez, a highly respected local chef, has been there for about six months. His previous credits include Laloux, XO, and Cube. I ate at Cube ('06) and Laloux (Dec '09) and both meals were excellent. I haven't returned since his move, but Le Saint Gabriel might be another good addition to your list. I'll be checking it out this fall.
Within a few blocks of your hotel there are a few decent to very good restaurants. In the decent and relatively affordable category you could try Le Petit Moulinsart (Belgian), Stash Cafe (Polish), Le Bourlingeur (French) and Porto Mar (Portuguese). Slightly more upscale are Holder (French), Kitchen Galerie Huitres (Oysters & Seafood), and Bonaparte (French). While I am a big fan of Olive & Gourmando it is more of a bakery cafe than a bistro but well worth checking out for breakfast or lunch.
60 Rue Jean-Talon E, Montreal, QC H2R1S5, CA
You need to venture further afield to have reasonably priced french restaurants or select a BYOB restaurant (eg plateau area )where cost is diminished as you bring the wine. If you are here during the week the businessman lunch specials are a deal across town. I know Stash cafe is recommended as decent price but I did not find it very special.
This french restaurant is in outremont off of Parc ave. but not far from downtown, in addition they have special menu after 10pm which is quite popular. I found it good value
French, moderatly priced, good and Old Montreal are difficult criteria to meet.
If you don't mind bistro style, you could drop by Olive et Gourmando.
I don't feel comfortable recommending anything else in that area :(
Olive et Gourmando
351 Rue Saint-Paul Ouest, Montreal, QC , CA
Good rec but it isnt a bistro....
check out DNA (when I went for lunch this week it was fabulous and the portion sizes have increased...I had the lamb tatare which was superb and sicilian calamari, the person i was with had wild cucumber, pork belly, and wild boar sausage all for 20 dollars at lunch)
I agree with wilmagrace that plateau is where its at for good value...lemeac is a good rec but if you are willing to have tapas check out pintxo or casa tapas ...
not europeean or often mentioned on the forums is Ghandi for indian food in old monntreal 230, rue Saint-Paul ouest