Funny I was about to jump in to this thread.
I came here for a 2 week vacation and that was 14 years ago. Late May is a good time, good weather and the women start wearing less.
The city is beautiful, when you are downtown you are a 20 minute walk to the ocean or a 20 minute drive from being on top of a mountain.
If you can afford it, stay downtown.
What's your Budget like? This place is good, $60 a night right in the heart of downtown.
http://www.bosmanshotel.com/
If you want to spend more, all the major chains have Hotels downtown.
The Strip Bar Dowhat was talking about is the Number 5 orange. The Area it's in is no longer nice or pretty, it's over run by Junkies and Crackheads, but everywhere else downtown is clean and safe.
If you are into stripbars then check out Brandi's it's the best in town right now.