As for bars, I personally like Tobacco Co., Martini Kitchen, and Mars Bar. I also hear Starlite and 3 Monkeys in the Fan are also good. If you're into that whole undergrad-y scene, check out Tiki Bob's or Banditos.
My favorite restaurants here are Strawberry Street Cafe, Mom Siam, Pho So 1, Comfort, and Jamaica House.
All of these are downtown or in the Fan.