You don't always have to eat in Fishermen Wharf or Cannery Row in Monterey and pay $18 - $20 per person. We found some affordable eateries in downtown Monterey near Webster and Cass. Within a few blocks, there are Thai, Japanese, Korean, Greek and German/Italian diners. Prices are good and you can walk to Fisherman Wharf. I am tired of paying a jack-up price as tourist. We had some great meals without paying outrageous prices.

My wife and I just returned from a one-week stay in Carmel, CA, but we spent most of the time in Monterey and Pacific Grove. Monterey and Pacific Grove are next to each other. We especially enjoyed eating at "Toasties" in Monterey and went to the small-town "Lighthouse" theater.
We would not recommend the Chili Great Chili although they seem to be high on the locals' list. We also enjoyed dining at the "bathhouse".
The bartender, Anthony, provided good information on sights and activities around the peninsula. The views along the waterfront are beautiful and we rented a 2-person bike twice just to take these in.
The aquarium is a must-visit -- and is better to visit during the week to avoid long lines on the weekend. We preferred Cannery Row to the Fisherman's Warf, although it is interesting to see all the seals at the Warf. Also, note that although the maps have a "Pie Factory" and "Paris Bakery" downtown, the Pie Factory is no longer there and the Paris Bakery has changed names. Also, the Thomas Kincaide museum in downtown is a great place to visit.