I've been here a few times as we are frequent visitors to the island.
The food during my experience has been nice, but not amazing. The atmosphere, decor and overall feel of the place is very luxurious and original - especially the see through floor out on the balcony - and the waiters have always been courteous.
Service however can be a little slow and when I visited it was busy so we had to sit inside and I became stifling hot, not attractive when dining! (They should invest in air con with those prices.)
Although not a rip off the place is on the upper end of decent and the dishes do sound quite complicated. There are much better places in Playa Blanca and the marina itself, but they do serve nice pasta and pizza so please don't be off put! That's the problem with giving a 3* ... you're a little in the middle! ;)