The Mt Pine Ridge is full of waterfalls and swimming holes. Nice scenery. Closest hotels to Caracol ruins. There are really no restaurants other than the 4 hotels in the area. If you want to go to other restaurants, hotels, etc you would need to have your own vehicle as there is no taxi service and places are too far from one another to walk. Very nice area but it depends on what you are looking for.
San Ignacio town has lots of restaurants, shops, crafts, etc. all within walking distance from each other. Typical small town stuff. Lots of inexpensive hotels from $15/nt and up. 2 rivers frame the town so there is canoeing, swimming, river activites available right in town. Tours to the ruins, caves, etc are available and cheapest from in town tour shops. Small villages just outside of town also have small lodges usually on the river and usually cheaper than the bigger more well known jungle lodges.
The bigger jungle lodges are on the outskirts of town either in the Pine Ridge or along the rivers for the most part. All are nice but different in location, price and amenities. duPlooys, Chaa Creek (over your price range except for the "camp" part), Black Rock Lodge, Crystal Paradise are all along the Macal River. Smaller places like Cohune Plams, Iguana Junction & Parrot's Nest are along thr Mopan River. I have been to all and have lots of photos on my photos site at http://photos.yahoo.com/barbsbelize
Feel free to ask me for more detailed info. I would say it depends on what you are interested in doing, seeing and type of atmosphere you like. Some places are more upscale feeling, some are more local feeling, some are closer to ruins, some closer to caves, etc.