Well, I really love Suntory: great toro, unbeatable ambiance, and reasonably priced lunch sets. I've also been to the Japanese restaurant in the Ruijin Office Building, which is hailed by many Japanese expats as the best place in town.... certainly better than anything in Portland, but not especially impressive IMO. I haven't been to Tianjia (owned by an air freight company, so they are able to guarantee Tsukiji toro) in a while; heard it's gone down hill.

As far as Korean restaurants are concerned, I've never been wowed. In fact, I dare say that the modest Toji restaurant here in Portland is comparable to the best of SH. What's more, Los Angeles is far ahead of Shanghai in this area.

Moving on to Western food, while I can't think of any fantastic places off hand, those of us accustomed to the typical American diet never go hungry. Take Paulaner (Xuhui location) for example. Assuming they still do the Monday special, it's possible to eat a lot of decent German grub for around y200 pp. And, you also have the hotel brunches and scores of boutiquey restaurants at your disposal.