Old Town Square restaurants are highway robbery. Inflated prices for mediocre goulash that tastes like it came from a can.

Take metro to Vinohrady instead - it's a proper neighborhood with restaurants that serve locals, not tourists with cameras. Look for places with Czech-only menus and reasonable prices. Their svíčková is what it should taste like - tender beef, proper dumplings, cranberry sauce that isn't sweet syrup.

Also try established restaurants if you want to pay fair prices for decent food in a nice atmosphere. At least the quality matches what you're paying for.