I think the best area of the city for a first time vistor is the Recoleta district. It is the most upscale and fashionable area of the city and much like the nicer arrondissements of Paris. But for the restaurants and clubs you will find a fantastic collection of places to eat in Palermo SoHo. Not that there are not good places in the Recoleta and other districts, but there are so many good ones in Palermo SoHo.
Have a great visit.
Sam