My family enjoyed our meal at Caliente, though I thought it was a little pricey for what we got. The night we were there, in August, it also was very hot, with the breeze off the water not making it to our table. (That would be less of a problem this time of year.)
There has been little or no remodeling or upgrading since it was Little Italy, so don't go looking for a fancy setting.
Bottom line: In my opinion, it's one of the better places on the island but not really in teh same league as Capricorn, Rendezvous or even Elvi's, and not the value that a place like Papi's, The Reef, Carmen's, etc. is. I would eat there again, but it not often.
Belize books and publications by Lan Sluder:
Belize First Magazine http://www.belizefirst.com/
Fodor's Belize and Guatemala Guide
Belize First Guide to Mainland Belize
Adapter Kit: Belize
Fodor's UpClose Central America
Belize Book of Lists 2000
San Pedro Cool (coming soon)