I've eaten at Delfino Riviera several times and I think it is definitely worth it, especially if you're looking for a "special meal" with that special someone.
Under chef Massimo Fedozzi, the cuisine is more subdued, less far out, than it was under the original chef. I would say this is haute Italian cuisine as you might have encountered it 20 or 30 years ago. The emphasis is less on startling combinations and theatrical presentations than on superb renditions of standard fare, with Ligurian specialties most often featured.
And, yes, it is very expensive. One lobster entree I had was $40! If they're still offering it, the Delizie di Delfino Riviera five-course, wine-pairing menu is something of a bargain at around $100 ($70 without wine).
Save room for dessert. They are amazing!
As far as a view, I'd recommend eating indoors (the room is gorgeous) and then asking to have your dessert served on the terrace.