What is a good time to visit New Orleans. I'm more interested in walking around town and exploring that getting drunk on the side walk. Late 20s here, probably flying solo. Will be hitting the casinos for a bit and check out the local cuisine (both at restaurants and DATY).

So, recommendations for time to be there and a place to stay would be great.

Too damn hot and humid between May and October.  Great at any other time.  I was just there last month and it was cool, dry and sunny every day.
A great hotel for you would be the Ace on Cadondelet in the Warehouse District.  Easy walk across Canal to the Quarter, as well as the area along Magazine St. and Tchoupatoulas.  Standard room is only $150/night, they have live music, two bars and a very young, hip crowd.