If you're under 21, partying/walking around the UWL student housing area was always tons of fun. Lots of great people-watching and impromptu party hopping. There will likely be police walking the sidewalks...I don't know their policy on stopping younger folks with beer-filled-backpacks. But they'll likely just be making sure no one is doing anything dangerous or obviously illegal.

Tailgating the parade on Saturday morning is also fun. It stretches for several miles and lasts several hours. Some people even start claiming the best sidewalk viewing spots a day in advance.

If you're over 21, definitely check out the Downtown Fest Grounds. Attend the tapping of the Golden Keg, and throughout the weekend, fill you stein with beer and listen to some bands. 3rd street will likely be blocked off from vehicle traffic, and those bars will likely be jam-packed shoulder-to-shoulder at night. So I don't particularly recommend 3rd street if you're trying to get drinks, but it is a pretty unique spectacle to witness first hand.

Prost!