When we went over for the UEFA Cup game, we stayed in the Ibis. Its actually a ship docked in the harbour.
Cheap and cheerful and about 10 mins walk from the main city centre action.
Most of the bars, restaurants and clubs are on the Kungsportsavenyn or "Avenyn", beer is quite expensive, but the bars have plenty of happy hours.
Cheapest eats: lunch at the food market in the city centre (Saluhallen). Plenty of places to grab a quick and cheap lunch.
Haga - Student-y area close to Avenyn. Plenty of small cafes, coffee shops etc.
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