I think I'm going to some Austin Social Scene deal at the Doubletree... not sure what it's gonna be like, but a large group of my friends got a block of rooms, so I don't think it can be too bad.
Get a little Mexican food at your favorite location and follow it with Alvin Crow and the Pleasant Valley Boys at the Broken Spoke followed by a night at the Driskill.
The Mexican food might set you back $40 depending on the number of drinks. The tix at the Spoke are only about $20-25 bucks each, a few night caps at the Driskill Bar aren't much, room isn't too bad, then breakfast at Kirby Lane or Magnolia Cafe the next morning/afternoon.