I really, really wanted to love this place based on what I had heard from friends and some of the on-line comments, but unfortunately I came away from our evening there last night (7/27/07) a bit disappointed.
First the good news: Maligan offers a wine tasting format that is really innovative and enjoyable. They offer small samples (~4cl) of around two dozen different wines covering reds, whites, and a couple of roses and desert wines. The prices are quite reasonable, offering samples of a variety of wines before making a bottle selection for the meal. Alternatively, one could simply enjoy these small samples with each course where Maligan will be pleased to offer advice as to the pairings. On this occasion, some of us selected the bottle of Demeter Bikaver Reserve 2000 from the Eger region, and it was quite delicious: deep and rich with good fruit/acid balance, interesting complexity and a fine finish. It is also worth noting that while the sampling menu offers a couple dozen items, the wine list is extensive – well over 100 different selections from all major Hungarian regions – and the pricing is pleasing.
Now the unfortunate part: I was somewhat disappointed with the food and the service. My appetizer of mangalica pork sausage slices with salad, peppers, onion and a seasoned ewe cheese was decent – even though the description is far more imaginative than the execution - which was fairly standard Hungarian fare. I was then persuaded by the server to try the “house specialty” which is essentially a thick beef stew over a couple of slices of dense bread. This dish was very ordinary, with the beef cooked like a pot-roast and devoid of much flavor, and the sauce essentially a thick brown gravy that was good but not great. Having been enticed by descriptions of “nouvelle Hungarain cuisine”, I found my selections to be distinctively “old Hungarian”, or, to be slightly more charitable: “traditional”. Maligan does offer several other dishes of veal, chicken and venison that I now wish I had tried, and certainly will if I go back for a return visit. Some of our group tried these other dishes – but I really did not hear any “raves” from any of them either.
On the plus side, the cold fruit soup enjoyed by several in our group was quite good, with distinctive flavors – perhaps a bit tropical - compared to other fruit soups I’ve had. And the soup bowls fashioned from ice was quite a nice touch and surprise. Also, my wife’s duck stuffed with goose liver was very delicious – but again a fairly typically rendering in this area, as opposed to a creative effort.
Lastly, the service – as is so often the case in Budapest – left something to be desired. The service actually began quite well, but seemed to fall apart as we proceeded into the evening. At the start, the servers were very attentive in providing the various wine samplings that we desired, but as we ordered and received our appetizers and mains, the service got spotty, sluggish and uncoordinated. By the time we got to desert, it took a good 45 minutes from the time the desert menu was presented before we actually got to order our finishing selections. Now in fairness, we were a group of 11 persons, which can be difficult to deal with sometimes. But, the place was not very busy as far as I could tell, and our group represented about two-thirds of their patronage for the evening.
In summary, I think I would like to give Maligan’s another chance, if for nothing other than the wonderful wine selections and innovations. And perhaps with a smaller group, and different food selections, I will raise my overall opinion a couple of notches.

Knowing in advance that Maligan's raison d'etre was as a wine cellar, we expected only fair food and mediocre portions--but were disappointed, gloriously so. Our main dishes were excellently prepared (though one of us found the duck overly fatty), and the sides were delicious. Portions were generous, and the cellar was indeed all that was boasted of it. They even had a non-smoking room, which, for Budapest, is (unfortunately) extraordinary. Definitely worth the trip outside the main portion of town.

One of the most under-exposed fine restaurants in Budapest, Maligán offers inventive takes on Hungarian standards, as well as the opportunity to taste a range of fine Hungarian wines in sip-sized (4cl) servings. And when we say "inventive" variations on Hungarian cuisine, we don't mean the baffling and barf-inducing nonsense all too often served up by image-conscious restaurateurs these days. We're just talking interesting, and seriously tasty. Meanwhile, the dining areas are both cozy and stylish, and the staff good-natured and exquisitely well-informed about the wines they are pouring. Our only complaint is that we've had to wait a bit between courses, but all things considered, that's just nitpicking, and we reckon it solidly Top 33, at least for now.