I used to stay at this joint every mardi gras when we would go downtown. Puts you in the middle of the party scene (about 20 bars) but getting to shopping/pike place/seattle center is quite the hike (or short cab ride) - Pioneer Square Hotel - (206) 340-1234
The inn at the market is awesome. Nice little getaway for the middle of the city and you are right by shopping and pike place.
You have 2 KILLER steak joints nearby,
El Gaucho and
The Met.
I just _barely_ prefer El Gaucho over the Met. I usually end up at the Met as it's a more casual affair. I've gone in with jeans and a baseball cap and not felt too outta place. El Gaucho's is certainly more of a "dress up" occasion. If you go to El Guacho's try the sirloin flaming sword, it's awesome. It's a big ass shishkabob alternating portabello mushrooms and beef sirloin. They bring it to your table, light some sauce on fire and basted it at the table. Very cool (and only about 35 bucks vs. 55 for the 26 oz porterhouse). All the steaks at the met are top notch, brave the 36oz Porterhouse if you dare, that thing about crippled me and i'm 330lbs

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I'm not a big seafood buff but
The Waterfront and
Oceanaire are 2 of my fiancee's favorites (plus you can get a steak if you want).
For a more affordable fare
McCormick and Schmicks has AWESOME lunch prices before 3 and the food is good. Decent people watching too.
Probably my favorite place to go to overall would be
The Icon Grill. I love this joint, swank atmosphere and you can go in jeans or in a suit. The food is awesome and ever changing and it won't cripple your wallet. I suggest dinner over lunch, but lunch is good too. It's right by Westlake Shopping center and Pacific Place shopping.
Ooh, also, a good combo (if you're into theater) would be the hotel vintage park (not too expensive), Tulio restaurant (downstairs of the hotel, amazing sweet potato gnocci), and then the 5th avenue theater (with in a block of the hotel). That's also in the heart of the shopping area and you could still hoof it to Pike's if you were so inclined.
If you have anything specific you're looking to do in town, let us (we seattle-ites) know. I'm sure we can find something to tickle your fancy.