We live in the area and often drive or walk to Sidney for the exercise. The Beacon is a good finish or rendezvous for lunch. We will often meet people there. Generally we stay in the pub half rather than the restaurant although there's little to choose between the two.
It's pleasant, typical pub fare. Service is good and the wait staff friendly. I think for us it's a glass of wine and some light midday lunch. Our expectations are not high for this is certainly not fine dining. However, I can recommend the mulligatawny soup if its on and the crab cakes. They do one or two interesting combinations you wouldn't normally see in pub fare - like a vegetable stack.
We find it a pleasant place to relax, meet friends and enjoy the spectacular view out over the water.
It's a fun place. Don't expect too much, enjoy the moment and recognise that life is often more about the simple things.