My wife and I ate at Selene's restaurant in Leander tonight (just northwest of Austin on US 183). It's off the beaten path and past the highway construction, but it's well worth the drive.
You're greeted by an unassuming exterior, but you're in for a great value. The Dungeness crab cake appetizers were among the best crab cakes we've ever had. The beef tournados and the ribeye were both very good and tender. And the wine selection is very unique -- and I mean that in a good way. We had a very reasonably-priced bottle of Texas wine that went very well with the meal. Dessert was the chocolate decadence (fabulous) and peach cobbler (also fabulous).
All in all, it's well worth the short drive up from Austin to eat at Selene's.