Nick Peyton operates like a ringmaster in his casual and moderately priced new restaurant, Market, in St. Helena. If he's chatting with customers in the back and people he recognizes walk through the door, he miraculously appears by their side, all the time keeping an eye on the floor staff.

When the waiters bring food to the table, he's there to see if everything is copacetic. "Bon appetit," he booms, spreading his arms theatrically. Then he pauses, smiles and says: "Sorry, I keep forgetting. I have to quit saying that."

For years Peyton was the godfather of white-tablecloth dining in San Francisco, working at Masa's, the Ritz-Carlton and then as a partner in Gary Danko. He and the chef didn't see eye to eye on things, and split the partnership more than two years ago. Since that time Peyton has been traveling and consulting while he waited for the right opportunity. He found it in downtown St. Helena.

His partner, Douglas Keane, has equally impressive high-ticket credentials as a former Chronicle Rising Star and as the chef at Jardiniere, the upscale restaurant near the Civic Center. Even the wine director, Bobby Stuckey, also a partner, sports a platinum resume: He was the sommelier in charge of the list at the French Laundry, which most people would agree is one of the top 10 restaurants in the United States, if not the best.

It's an interesting situation that speaks of changing times and attitudes toward fine dining. Like Tony Gulisano at Chow, chefs such as Peyton are bringing lofty sensibilities but downscaling the concept to tap into the way most people want to eat these days.

Peyton and Keane have created a restaurant that affords a lot of sizzle for the dollar; a place that looks like the main courses and appetizers should be half again as much. The tablecloths, generous napkins, candles on every table, well-balanced utensils and the entire service experience have the aura of fine dining but with none of the pomp. Fieldstone walls that date back nearly 120 years and two yellow arches separating the dining areas add a sophisticated touch to the 72-seat dining room. The bar near the front door is thought to have come from San Francisco's Palace Hotel, and three Craftsmen-style communal tables help to promote convivial ambience.

Even the art has a pedigree: The market photographs on the wall were taken by another well-known front-of-the-house guy, Doug Washington, who traveled around the world and did stints at Jardiniere, Postrio and other top-flight places.

Keane's food is pretty straightforward American fare, with all but one main course priced at under $15. The homey style is highlighted on a boxed portion of the menu under the heading "Home Style Classics ($12.50 each)." There, the chef features buttermilk fried chicken with mashed potatoes and corn bread; a thick-cut pork chop with housemade applesauce, and a dense meatloaf glazed with what tastes like barbecue sauce.

After trying all three, we concluded that you can take a city boy to the country, but that doesn't mean you can take the city out of the boy. While all of these would taste great at a roadside diner, they don't seem up to the caliber of the chef's obvious talent. The skin of the chicken could be a little crisper, the pork chop a little less dry and the glazed meat loaf a little less dense.

However, he would leave other cooks in the dust on the more citified dishes such as Alaskan halibut ($14.50), a beautifully sauteed piece of fish that sparkles over an herb-flecked pool of Meyer lemon vinaigrette with new potatoes, spring onions and asparagus. When Keane adds his own gentle twist to macaroni and cheese ($8), even the best cooks will ask for the secret. He claims it's nothing special, but he's crafted a masterful dish. The chef reduces cream with shallots, thyme and other ingredients to form the sauce before adding the macaroni, tangy aged cheddar cheese, fine dices of Hobb's bacon, sour cream and a dash of Dijon mustard. Served in an oval ramekin, the heady mixture bubbles gently under a crisp blanket of toasted bread crumbs.

Few classic home cooks could conceive of something as innovative as his roasted portobello sandwich ($7). He generously slathers toasted slices of Model Bakery pain de mie with red pepper mayonnaise and stacks on roasted peppers, just-picked greens, sweet caramelized onions and a last-minute shaving of raw fennel. His skillet steak is another master blend. Served in a cast-iron skillet, the steak is surrounded by onions and mushrooms ($17.50).

I was skeptical about the "egg noodles, Liberty Farm duck, mushrooms, green garlic, Laura Chenel goat cheese" ($12) listed on the menu because it sounded like all the makings for a muddled mess. Instead, Keane turned them into a perfect symphony. He braises the leg and sets it atop a tangle of pasta interwoven with fat dices of celery root, carrots and wilted greens. He reduces the braising liquids and stirs in goat cheese. At serving time he adds generous dollops of soft cheese around the heap of noodles.

A food stylist would swoon over the fish and chips ($11), whose puffy batter looked like golden cumulus clouds nestled on a plate beside a stack of french fries. Unfortunately, the batter was a bit gooey in the middle and the fillets needed to be seasoned to stand up to the exterior.

While many main courses come with vegetables, the sides ($3.50) are also worth considering. Creamed spinach is given extra richness and flavor with cream cheese, and the market vegetables change every night. One time Keane sauteed sugar snap peas with wedges of radishes; another time he served asparagus with ramps, which look and taste something like baby finger-sized leeks.

When it comes to starters, Keane is a master at soups. Cauliflower leek ($3) gives new respect to this often maligned workhorse vegetable. Since our first visit the chef has replaced it with an equally enticing combination of new potato and spring leek. By the time you're finished, you'll feel like you've been swaddled in a thick down comforter.

Other starters are slightly disappointing. The Caesar ($6), has wonderful garlic croutons that shatter on impact, but you'd be hard-pressed to identify either anchovy or egg in the dressing. We also found the spring asparagus ($7. 50) a bit ordinary, served with a mustard dressing, chopped eggs and tomatoes.

Peyton, who presided over a cheese cart at Gary Danko, obviously can't have his way at such a casual spot, but he still can't resist adding a cheese plate ($7). One night's included tangy Fiscalini aged cheddar, Point Reyes blue and a Laura Chenel goat cheese mixed with herbs. Because the restaurant doesn't accept reservations, it's a great appetizer to order at the bar while waiting for a table.

The down-home desserts (all $5) include soft, rich ice cream made to order. The best dessert is a parfait with layers of barely set vanilla ice cream and passion fruit granita. The richness of the cream and the sharp tang of the fruit ice offer a startling but spectacular contrast. A key lime coconut tart shows off similar contrasts, with puckery lime mousse on top, an almost crunchy coconut filling and a sandy tart shell.

The transition from white-tablecloth restaurant to a casual, moderately priced bistro isn't as easy as some might think, and Keane is still working to adjust his style. Our last visit showed that the dress rehearsal is about over and the restaurant is almost ready for the season to begin.

Impeccable list, perfectly served

I don't know how many times I've ordered a wine in a restaurant, only to have it served at a lukewarm room temperature. Rare is the place like Market, where the wines are treated to climate-controlled conditions; when most main courses are under $15, it's almost unheard of.

This is another element that sets this St. Helena restaurant apart. It doesn't hurt that the compact wine list was drawn up by Bobby Stuckey, who was the sommelier at the French Laundry. He approaches wine with a sense of humor, knowing that it is designed to enhance a meal and not intimidate. The list is captioned by style: "Crisp and Clean, Light and Lean," "Low Grip, High Pleasure" and Spicy Ripe, "Soft & Cuddly," for example.

Markups are good, too. On the lower end, the 2001 Niebaum-Coppola Rosso is $18.50 and the 2001 Kuleto Villa Rosato di Sangiovese is $20. Both offer a lot of good drinking for not a lot of cash.

One of the best bargains is the 1998 Corison Cabernet Sauvignon ($50) along with dozens more exciting, unusual wines.

There are also the allocated wines such as the 2000 Grace Family Vineyards Cabernet Sauvignon ($265); 1999 Lail Vineyards "J Daniel Cuvee" Cabernet Sauvignon ($110) and the 1997 vintage of the Big Horn Cabernet Sauvignon ($50), which Market still has.

If you bring your own, corkage is $15, but if you aren't interested in wine by the bottle or any of the dozen offered by the glass, there's a good selection of beer, soft drinks and well-made mixed drinks.

Market may be a neighborhood place, but the beverage program has a destination sensibility.

--M.B.

OVERALL: THREE STARS
Food: TWO AND A HALF STARS
Service: THREE STARS
Atmosphere: THREE STARS

PRICES: $$

NOISE RATING: THREE BELLS

PLUSES: Great ambience-food-price ratio. Excellent service. Most food is very good.
MINUSES: A few of the classic dishes, while good, seem a little lackluster.

RATINGS KEY:
FOUR STARS: Extraordinary
THREE STARS: Excellent
TWO STARS: Good
ONE STAR: Fair
(box): Poor

$: Inexpensive (entrees under $10)
$$: Moderate ($10-$17)
$$$: Expensive ($18-$24)
$$$$: Very Expensive (more than $25)

Prices based on main courses. When entrees fall between these categories, the prices of appetizers help determine the dollar ratings.

ONE BELL: Pleasantly quiet (under 65 decibels)
TWO BELLS: Can talk easily (65-70)
THREE BELLS: Talking normally gets difficult (70-75)
FOUR BELLS: Can only talk in raised voices (75-80)
BOMB: Too noisy for normal conversation (80+)

Chronicle critics make every attempt to remain anonymous.
All meals are paid for by the Chronicle.
Star ratings are based on a minimum of three visits.
Ratings are updated continually based on a least one revisit.