Louisville is awesome! If you love the party scene, you'll love that city. I went out drinking every night. I love 4th Street Live, and the Galt House (which is very close to 4th Street Live) is a beautiful place. I was trying to talk my parents into going to the Derby and staying in the Galt House in 2007, but they won't bite. My mom doesn't like the big crowds. They'll hit up Louisville when there isn't a lot going on. Oh well, it looks like I'll be taking off to the Derby by myself next year. I wouldn't want them to know how I REALLY am anyway. In Louisville, they would see the angels wings and halo come off, and be replaced with horns and a tail. LOL
I already have my outfit picked out for the Derby next year! I know, I know...I'm obsessed.
If you wanted to spend some money, then I would definitely recommend staying in the Galt House.