In the daytime, Old Town is a cool destination for boutique shopping, great restaurants, art and culture. In the nighttime, Old Town is your go-to for clubs, bars, still great restaurants, and people watching.
There are a ton of local shops where you can find anything from doggie sweaters to baked goods to Navajo jewelry to couture fashion to cowboy boots and red-dirt-shirts. The restaurants range from chains like Ra and Grimmaldis to local spots like Daily Dose and RnR. The Arts District is a great place for festivals of all kinds and is right behind the Scottsdale Historical Museum. There is something here for everyone!
A free trolly will take you around downtown if you can figure out when and where to get on and off. At night there are plenty of rickshaws to transport you to the next bar, and no lack of cabs to get you home safely.
A day or night on this town will have you digging deeper in to your pockets than if you chose downtown Tempe or even Phoenix, but it is definitely a unique experience.