Waltz with a fellow at half pace (5)
I believe the answer is:
dance
'waltz' is the definition.
(thesaurus)
'a fellow at half pace' is the wordplay.
'a fellow' becomes 'dan' (man's name).
'at' is a charade indicator (letters next to each other).
'half' indicates taking half.
'pace' with half the letters taken is 'ce'.
'dan'+'ce'='DANCE'
'with' acts as a link.
(Other definitions for dance that I've seen before include "bolero, for example" , "Eg, perform ballet" , "social function" , "Jig, caper" , "social event" .)