How much you'll need for meals really depends upon how many of you there are, the ages and appetites of each and whether you dine counterservice, sitdown or a combination of both.
We just got back on Monday and for our family of of 4 (2 adults & 2 juniors), I budgeted $125/day. We actually would have spent closer to $130/day if it were not for the vouchers I had.
That amount covers a sitdown lunch and counterservice dinner plus the groceries for the room that provide an "on-the-go" breakfast. DD14 and I are not big eaters and can easily share an entrée. DH is a careful eater, really watching the cholesterol and salt. DS13 is our human eating machine and must be fed every couple of hours.
A typical day looked like this:
Breakfast: (in room) Cost:$40 in groceries for 5 days or $8/day
bagels with cream cheese and jelly or cold cereal with milk
yogurt
fresh fruit
juice, milk, coffee or tea
Lunch: (sitdown restaurant) Cost:$85 with tax & tip
Two shared appetizers $13
3 entrées (DD14 & I shared) $45
4 beverages $8
tip $14
tax $5
Dinner (counterservice) Cost $30
3 "platters" (DD14 & I share) $18
1 extra side dishes $4
3 beverages (DH & I would share) $6
tax $2
Snacks (one each daily, but DS usually ate mine and DH's) Cost $10
If you already have an idea of where you'll be eating, check out the menus at
AllEarsNet.com - Menus From Around the World for typical prices. Tax is 6.5%. Customary gratuity is 15% - 20% for sitdown restaurants. I'm sure that the $700 that you saved on your room will more than cover the increase in the cost of food over the MYW dining plan.