Dee's Hang Out (http://deeshangout.com/): Very reasonable prices, great seafood, and Cajun dishes. It is small and a little loud, but the food is great. Try the banana pudding. Closed Sundays. On the east end of PCB.
Angelo's Steak Pit (http://www.angelos-steakpit.com/). It has been there since I was a kid. Cooked over hardwood, the filet will be one of the best steaks you have ever eaten. Located on the east end of PCB.
Thomas Donuts and Snack Bar (http://thomasdonutandsnackshop.com/) Been around since 1971 and owned by PCB’s mayor. If you like a wide variety of donuts, this is the place for you. West of the Calypso and Tidewater.
Captain Anderson's (http://captanderson.com/): It has also been there since I was a kid and I am in my 50s. Huge menu. Also a large shop for while you wait. Closed Sundays.
For lunch you might like Chicken Salad Chick at Pier Park (http://www.chickensaladchick.com/): A woman started these out of her home in Auburn, Alabama and franchises are spreading rapidly across the southeast. They have several different types of chicken salads, as well as other sandwiches. Of course, you can find Five Guys, Red Robin, and numerous other eating places at Pier Park. Jimmy Buffett's (http://www.margaritavillepanamacitybeach.com/welcome.html) is probably our favorite seafood place there.