First off buy a bunch of beer somewhere outside of town. It's expensive/hard to find in the city.
Hotels: if you are a cheapo like me, the Comfort Inn and Days Inn are reasonably priced, they're close to the strip and you won't get gangrene. If you're a baller then some casino I guess. The Borgata is supposed to be nice but it's not on the strip. Stay as close to the strip as possible unless you want to cab it all the time.
Food: There's a bunch of places to eat in the Tropicana, like Red Square, a decent Russian place. Plus you can order delivery food to your hotel. There's also Irish Pub, on Kentucky Avenue right off the strip. Just Irish Pub. It's a laid-back Irish pub, kind of a dive, with cheap beer and whiskey and decent pub grub. I always go, worth a stop.
Bars: Casinos of course. The Tropicana also has a few bars. Last time I was there we got kicked out of a karaoke bar there because my buddy was drunk and dropped a beer. For some reason, the Dizzy Dolphin on the Boardwalk was a big meeting place last time around. It's in the Hilton and they have slot machines at the bar you can play. Plus, there's Irish Pub.
Adult Entertainment: And I don't mean casinos. The main place you'll want to go is called Bare Exposure, it's the only all-nude place there and it's BYOB, which means you can bring in a case of beer or two.
Make sure to get somebody from another A-10 school the "Hot Seat." He will not thank you later, but everybody else there will. Don't talk on your cell phone though, the same buddy as before got kicked out for talking on his phone in the bathroom.
Casinos: Of course. I like the Tropicana, Caesar's is alright, and the crummy looking one next to Bally's (I forget the name, maybe Claridge?) is less nice but seems to have better odds on slots and you get more free booze there, in my experience.
Other fun stuff: The Boardwalk, of course, has lots of boardwalk-related crap: t-shirt shops, carnies, fried food, and so on. There's an amusement park on the boardwalk, plus some reasonably fancy shopping. There are also pedicabs. Last A-10 tourney I remember some drunk Xavier fans pushing around a passed out friend of theirs in one, which was pretty funny.
Got any other ideas? Post them in the comments.