well and good

(all) well and good

Perfectly acceptable or adequate. Often used to juxtapose some other problem that someone hasn't considered or addressed. A: "As you can see, this will be the most advanced smart phone available on the market." B: "That's all well and good, but will it be affordable to the average consumer?" We all thought that your presentation was well and good, but a bit more detail on the Q3 results would have been nice.
See also: and, good, well
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.

(all) well and good

good; desirable. It's well and good that you're here on time. I was afraid you'd be late again. It's all well and good that you're passing English, but what about math and science?
See also: and, good, well
McGraw-Hill Dictionary of American Idioms and Phrasal Verbs. © 2002 by The McGraw-Hill Companies, Inc.

well and good

Acceptable, all right, as in If you can get a better discount elsewhere, well and good. This redundant phrase was first recorded in 1699.
See also: and, good, well
The American Heritage® Dictionary of Idioms by Christine Ammer. Copyright © 2003, 1997 by The Christine Ammer 1992 Trust. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

well and good

All right, but something else may be better yet. This expression has been around since the late seventeenth century. Robert S. Surtees used it in Handley Cross (1854): “If you . . . can find anything out about them, you know, well and good.”
See also: and, good, well
The Dictionary of Clichés by Christine Ammer Copyright © 2013 by Christine Ammer
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References in classic literature ?
Well and good. But not a penny piece besides--not a pair of gloves, nor a theatre ticket.' She didn't understand--was very offended sometimes.