Visited Pensacola for a wedding recently and I was impressed by 2 restaurants.
First: Jackson's. This place is downtown. We enjoyed a tuna special, a duck dish, and crabcakes. Mac and Cheese appetizer was very good. Wine list was excellent - prices ranged from $45 to $125. Service was very good: smart and attentive. The room is pleasant. A drawback was that the bar is open to the eating area and it's slightly noisy on a Friday night. Dress is smart casual, though women tended to dress up a bit. Bill for 4 including wine, tax and tip was $300.
Second: Pegleg Pete's. This is at the beach on the road to Fort Pickens. Super casual place. We ate there twice. Great, great oysters - Rockefeller, Casino, Spicy Lafitte. Very good value - $10.99 for a dozen. Nice spicy gumbo. Grouper nuggets made a tasty lunch special. This place fills up early, and kitchen service slows down. So I'd advise getting there at noon for lunch, or eat real late. We were not there for dinner.