When I was doing research for my Japan trip earlier this summer I found a place called Steak House Satou which seemed to be popular with (English-speaking) internet food bloggers as being a good value. It's a little bit off the beaten path in Kichioji (a Tokyo suburb). It's primarily a butcher shop that sells Matsuzaka steak, but upstairs they have a really small restaurant where you can get high quality steak for about $50 (at lunch, probably a bit more for dinner).

You can read about it here: http://paulstravelpics.blogspot.com/...-yakitori.html or just googling for "steak house satou" for some other links.

I didn't get a chance to make it out there this trip since I was with travelling with a bunch of people and it doesn't sound like the restaurant can accomodate us, so I can't personally vouch for the place, but I definitely added it to my list for future visits. Seems like a fun expedition into suburban Tokyo where you would almost certainly never venture on vacation.

Anyone on the board been to this place?