Off site eating can be much more cost effective, but the dinner shows are probably not your best bet.
Try taking a drive through the Dr. Phillips section (Palm Parkway to Turkey Lake to a left on Sand Lake). There are many nice restaurants there.
Also, there are a vast number of regular sorts of chain restaurants like TGIF's, Outback, Carrabas, Olive Garden, Smokey Bones, Mugsy's, Red Lobster, Macaroni Grill, Joe's Crabshack, Pizza Uno, Bennigan's, and on and on. If you like that type of food, you'll have no problem finding it in the general vicinity of WDW.
For the dinner/entertainment factor, many folks like Medieval Times. I'm not a fan of eating with my hands, but this is one of the better entertaining places. The food isn't remarkable, but it's not horrid either.