I hope you don't plan on sleeping much! Soho is mental every night from about Tuesday onwards. Fridays are heaving.
If you're looking for 'nicer' places then the Soho Hotel is good, Ham Yard is apparently nice too. Besides that there's a gazillion pubs, just stay away from the Sam Smith's ones as you'll want to die after about 3 pints. The Crown and Two Chairmen is probably the most 'upmarket' pub in the area but the prices reflect that.
EDIT: More upmarket options.. Duck and Rice, Dean Street Townhouse, HIX, Bob Bob Ricard (I think they still have a bar?)
EDIT2: I nearly forgot The Blind Pig above Little Social restaurant. I loved that place, great cocktails and not too pricey for table service. There's a place called Old Tom and English which looks fun too.
EDIT3: If you don't know Soho then Wardour Street is the main drag. Old Compton Street is the main gay drag, the crossroads of Rupert St/Brewer St is where you can find your resident pimps, drug dealers and more of the gay scene.