I'm leading a Lake Champlain - Adirondack bike tour in mid-August, spending a night in each of these towns. The three top choices in Malone seem to be Gallaghers, Villa Fiore, and Sansone’s. Of these, Gallaghers looks a bit more contemporary, Sansone's is traditional Italian (open for 72 years - they must do something right), and the main thing I recall about Villa Fiore is having to walk through three sets of doors to get in, and it felt just a tad stuffy.
In Saranac Lake, the Blue Moon Café is highly regarded. On a scouting trip in May I ate at Nona Fina, which looks classy, but it serves very ordinary Italian food with awful bread, has no draft beer, and only Morelli bottled beer. YMMV
We're walking, so need somewhere in the town center, although I could unload the support van if there is something exceptional further away. I'm not planning to have us all eat together, but like to provide the best local options to my riders. We'll be there mid-week, so hopefully space won't be an issue.
Blue Moon Cafe
55 Main St, Saranac Lake, NY 12983