If you are a group of university students (I understand, because I'm sort of like one), I would recommend Commander's Palace for lunch. I was there last year during the Mardi Gras weekend. Prices are cheaper than dinner and food is superb. Plus, I believe the have the house martinis for a dime only during lunch (I could be wrong).

Be sure to get reservations ahead of time. From downtown you can take the trolley (Good experience anyways).