Last of meat, dog eating it — that's grand! (8)
I believe the answer is:
thousand
'grand' is the definition.
('thousand' can be a synonym of 'grand')
'last of meat dog eating it' is the wordplay.
'last of' indicates one should take the final letters.
'dog' becomes 'hound' (hound is a kind of dog**).
'eating' means one lot of letters goes inside another.
'it' becomes 'sa' (old-fashioned abbreviation for sex appeal).
The final letter of 'meat' is 't'.
'hound' placed around 'sa' is 'housand'.
't'+'housand'='THOUSAND'
'that's' is the link.
(Other definitions for thousand that I've seen before include "Ten hundreds" , "a fair amount?" , "Numeric value of kilo" , "M or K" , "Figure" .)