Tried 3 different Michelin-starred restaurants in HKG this past week:

1. Akrame, 1 star, French, dinner. I felt overall that the value for price paid wasn't bad; I did the 8 course tasting menu + 8 wine accompaniment. The wines were good, mostly French (as it is after all a French restaurant), but probably a tad bit pricier than they should have been. The dishes were well-executed and plated very nicely, if the dishes themselves weren't something that just shouted innovation. Service was good, definitely 1-star level, but IMHO they took too long between courses--took 3 hours to finish the dinner, and not because I was a slow eater.

2. T'ang Court, 3 star, Cantonese, lunch. Probably best overall value; I chose the bigger tasting menu (6 courses, roughly $130 US IIRC). Every dish was very well executed, and the service was absolutely impeccable. Wines by the glass were affordable and good. Service fantastic and definitely at what I expect of the 3-star level. Only issue I had was that the folks at a nearby table were wearing shorts and sandals. Seriously?! The restaurant asks for appropriate dress; they ought to enforce it. (No, it didn't detract from the food; I just found it shocking that people would go to a 3-star place in vacation wear.)

3. RyuGin, 2 star, Japanese, dinner. The food was impeccable. Many ingredients flown in from Japan every day. Pricey--the most expensive of the three (with the set menu running around $250 US). Part of that price is the location, on the 101st floor of the ICC building with spectacular views of Hong Kong (unfortunately, the day I was there, it was so cloudy that the windows looked like lampshades, with nothing at all visible). Service was very good, attentive but not distracting. My complaints are the beverages: the wine list is good, but incredibly expensive (stuff like 1970 Penfold's Grange for around $1300 US); there are a few decent half-bottle wines, but still over $125 US. Cheapest sake was $100 US or so (and for a half bottle IIRC). Beers were Suntory Premium Malts and Kirin. Seriously? At least they didn't charge $50 US for a $1 beer. I can only imagine the Tokyo 3-star location is just insanely fantastic.