Just to echo this. The 'Menu del dia' is a sort of best kept secret. It usually is the Spanish owned Restaurants that promote this and it is wonderful value for money as well as a chance to try some new dishes.

One near the water parks in Magaluf is Rotunda del Ocho (Roundabout 8! - you will see why if you go.) is a case in point. For 10 euros you get 3 courses - the starters the other day were Gazpacho (cold vegetable consomme with chopped veg served on the side to add yourself), mixed salad (really a Tuna salad) and Paella. There was enough paella to not need any further food! Second courses were Pork loin, Fried fish or Snails!! (They would let you have two starters if you ask nicely.) Finished off with Creme Caramel, Tart, Ice Cream, Melon or Watermelon.

They don't speak a lot of English but they are very friendly and make you feel very welcome in a Spanish environment.