The ownership changed not too long ago, and with it the menu, but this oceanfront dining spot in Newport Beach still specializes in great seafood. You can't go wrong if fresh opakapaka is among the day's catches. The macadamia-nut-crusted salmon and mahi mahi are also winners. Then there's the spicy kick delivered by Cajun-spiced yellowfin tuna. But most surprising of all is Billy's take on the lumbering tuna of the dry land (a.k.a. cows). Whether it's the filet mignon, New York strip or bone-in rib-eye, you'll saw off a bite grilled to your specifications, chew it up, and then look around to confirm you did not mistakenly wander into the nouveau riche's best steakhouse. There are two ways to enjoy the best of both Billy's worlds: Order the surf-and-turf combo that has a hand-cut, grilled petit filet served with jumbo shrimp grilled in the shell, or start your fish dinner with the Cho Cho appetizer that has beef tenderloin marinated in teriyaki sauce and grilled on skewers. Like their entrée cousins, the beef on skewers is incredibly tender and tasty. $$$$