El Tumi for Peruvian:
Recently had really good Italian Chowdown at La Vecchia:
Brickies Tavern has the best chicken fried steak I've ever had:
Again, if you search the Southwest board for Steve Timko, you'll find most of these and more. (Don't get a big head, Steve!)
706 W 2nd St, Reno, NV 89503
If you like Vietnamese food, there's Pho 777 across Second Street from Harrah's and Pho Country up Virginia Street, although I still have not tried the latter.
Lots of good Thai restaurants. Two close to downtown are Thai Chili on South Virginia Street and Bangkok Cuisine on Mount Rose Street (not the Mount Rose Highway).
It's not clear to me if the Nugget diner in downtown Reno is open late night. It's good cheap diner food.
Sezmu is new American and its entrees are about $20. I don't know if that counts as reasonable. I like it a lot.
Rule of thumb is that the restaurants at the Eldorado are the best in downtown Reno.
670 Mount Rose St, Reno, NV 89509
Thai Chili Restaurant
1030 S Virginia St, Reno, NV 89502
55 Mount Rose St, Reno, NV 89509
Check out the Santa Fe Hotel. We've been going for tapas for some months and it's great and VERY reasonable.
Also Beto's on Fifth Street for Mexican. NO atmosphere but we love the food, esp. the birria.
Are you looking specifically for downtown locations?
Santa Fe Hotel
235 Lake St, Reno, NV 89501