Been there!? I live there! There are a lot of scams to rip off tourists but if you stay away from people who just approach you from the street and make sure to order your taxis by telephone you'll avoid 95% of the scams. There are lots of cute chicks also but the good ones won't let you bonk them on the first date, except maybe if you lie and say you're moving here
There's a wide selection of hookers, though, and the price is not too bad ($50 should get you full service for a few hours). I recommend checking out a place called the Irish Cat near the "Kálvin tér" underground stop. Lots of English speaking people and the average age is low 20s.