This review is based on the several trips I've made to HKG and the three I take each year. Like all of my reviews, I hope to impart some of the intangibles that you'll find useful on your trip, rather than concentrate on the stuff you can get out of any tour book.

Disclaimer: HKG is constantly changing so some information will be out of date. This will mostly be in regards to any restaurants or bars I mention. The other thing I should mention is that even with my multiple visits and the fact that I'm going to buy into a place there with a friend that lives on HKG Island, I'm still not entirely qualified to discuss absolutely everything about this great place. I shall do my best.

How to get there:
I'm a United customer and live on the west coast. I usually take the direct flight from SFO (San Fran) to HKG (Chek Lap Kok). There are plenty of carriers that can get you to HKG, so pick one based on price. If you can go business class, I'd highly recommend doing so. Flights from SFO usually use the Boeing 747-400. 14 hours going and 12 back from SFO. Book ahead and not around CNY (Chinese New Year), and you may be able to secure yourself a seat on the upper deck, which is the only way I'll go there. It only seats about 28 people and has two lavatories, a dedicated upstairs flight staff, and people from the downstairs can't come up. Better selection of magazines, copious storage, less-stressed flight crew, and most importantly, no hordes from "comedy-class" or crying babies. Much more dignified, overall.
You'll fly into the new (built in 1997) Chek Lap Kok or HKG airport. It's on Lantau Island which has been slated for major development (already well underway) and sits to the west of HKG and the New Territories (NT). It's a beautiful new airport and well designed. You will have to take a transfer train to get to passport/immigration and to pick up your bags, but all the signs are in English. If in doubt, just follow the herd from your flight. Passport control and immigration is very quick here. I usually get through in less than 15 minutes. It does depend upon your place in line. Right out of the gate, you'll notice that the Cantonese and travel vets will be walking fast to secure a front spot. Get used to this.
HKG is also a great hub to use for discovering the other cities of SE Asia, btw.
The old airport at Kai Tak was on Kowloon and was probably the scariest approach I've ever experienced. You banked hard and slid in between the high-rises at such proximity that you could see people hanging clothes from their windows.

Getting around and the Octopus Card (Important):
Once you've cleared customs, head to the arrival hall. Locate the MTR (Mass Transit Railway) kiosk in the center. It's round, green, and labelled. At this point you should buy and "Octopus" card. You'll need it. It's 49HKD and you can redeem it when you leave, but it's a great souvenir and will prove to be your best friend on this trip. The Octopus is like a debit card that can be used for the MTR, at 7-11's, McDonalds, etc. You can put it in your wallet and the MTR scanners will read right through it. Just touch it to the MTR's gate scanner and it will subtract your fare automatically. You'll do this once when you enter and once when you leave. You can "add value" to the card at any MTR station (go to the machines) or MTR kiosk.

Getting into HKG is easy. Take a cab at 40USD, or better yet, use your new buddy, the Octopus, to take the MTR's Airport Express. This is a safe, clean, and fast (25 minute) trip to Tsing Yi, Kowloon, and HKG Island stations, respectively. You can buy a return ticket at the machines in the arrival hall at 180HKD, but don't lose the stub. Or, you can just and pay the 100HKD each way (total 200HKD) using your Octopus. It's up to you. 20HKD is about 2.50USD in savings.

Once on the MTR, sit back and look at HKG start to rise up all around you. Much of the journey is in tunnels or underwater, but you'll start to get a feel for what you're in for. Towering buildings, cramped streets, bright lights...oh baby, just wait.

Where to stay:
Hotels abound here. I have lots of friends here, but one of my British friends has a place on trendy HKG Island, right in Admiralty. This saves me tons of cash, but I also have stayed at the Grand Hyatt and JW Marriott. You can read my reviews on these.
Where you stay is contingent upon personal taste and budget. Look on www.expedia.com for rates and do comparision shopping. I'd make a friend in HKG if you plan to come here a lot.
Think of HKG like NYC. HKG Island is like Manhattan, while Kowloon and the New Territories are like the outer boroughs. I like HKG Island, because frankly, that's where much of the fun and interesting stuff is. Kowloon is nice if you don't mind the crowds, bustle, and traffic. It has more of an Asian feel to it whereas HKG Island is more western. Don't get me wrong, there are lots of things to do in the NT's and Kowloon, which I will get to later.

For a first timer, I'd recommend you stay on HKG Island either in Central or Admiralty. You may find them somewhat sterile in terms of getting the true Cantonese experience, but a short MTR ride to Kowloon's Tsim Sha Tsui, Jordan, Yau Ma Tei, or Mong Kok will quickly rectify this. You'll see the neon and crowded streets. Nice for photos. Not nice to linger in.
Central has several top-end and a few medium-end hotels, but they are all in the 200USD range. Central has the benefit of being close to the Peak Tram, Lan Kwai Fung (the bar district), and nice shops. It is close to the MTR Central Station which you will arrive at. Ritz-Carlton and Mandarin are quite close to Central. I also like Admiralty which is where I usually stay. Admiralty is home to the very large and trendy Pacific Place Mall. It also has it's own MTR stop and the Conrad and JW Marriott are immediately above. Also a bit too western for some people's tastes, but perfect for a first-timer.

If you want to stay in Kowloon, there are many top end places as well. As you proceed farther north it gets cheaper, but also more crowded, noisier, and more difficult to drive in. I find the hordes of Kowloon to be overwhelming after an hour and only go over there to buy electronics and bootleg DVD's. We will get into this later.

Practicalities:

HKG is crowded crowded crowded. A typical apartment for a family is less than six hundred square feet. Everything is small and cramped. This is not the case in western hotels, but if you visit friends' homes, you'll see what I mean. The older Chinese flats are western sized, but the Cantonese despise them and bid the price of tiny high-rise apts up. My friend has an old Chinese flat. It's about 1000sq ft and has a separate rooftop terrace and washer/dryer. I don't know why more Cantonese don't have them. Many of my British friends have these.
What's the greatest status symbol in HKG? It's not the Amex Centurion Card or a Ferrari. It's a LAWNMOWER!

Don't bother bringing cash or traveller's checks if you have an ATM card with the standard reciprocity with STAR, Interlink, etc. There are ATM's everywhere, including the arrival hall of the airport where you can immediately access cash. My bank charges only 1.50USD for transactions so it's cheaper than checks. If you get pinched you can go to any number of banks (almost as plentiful as the ATM's) and get a cash advance on your Visa.
The HKD is pegged to the USD which makes it stable and gives it a constant exchange rate of 7.79HKD to 1USD. This also means that things are expensive in HKG. Denominations are in cents, so you will be able to figure things out fairly quickly. Look at you coins carefully, since there is a 10HKD coin.

Voltage is British-style three prong 220v, so you will need an adaptor AND step-down transformer. Most cels and digital cameras have these built-in, but check your manual. Hotels plugs can generally accomodate the US 110v cels, shavers, and camera chargers', prong layout.

Politics/Economics:
Changed hands in 1997 and is now an SAR (Special Administrative Region) of China. Estimated that 30% of China's GDP flows through here, but it's probably more. HKG's Chief Executive is Tung-chee Hwa. Retained British street names, but Prince of Wales barracks is now the People's Army Barracks. I've seen a negligible erosion in personal freedoms here.
Currently the bubble economy in real estate is putting many people "upside-down" on their mortgages, so real estate is cheap (comparatively) and unemployment is close to 8%. That's the worst it's ever been. There is much discontent and worry about the direction of HKG's economy for the long-term.
The Chief Executive is Tung Chee Hwa. Not a popular man right now since he's the lightning rod for all of HK's economic woes. As of this writing, it is the year of the Ram, which is not good for monetary growth. Uh-oh.

Vaccinations/Medical:
See your regular doctor. Tetanus, Hepatitis A and B is recommended. Some rare outbreaks of Japanese encephalitis and dengue fever. I wouldn't worry about these. You may get diarrhea if you eat at some food stalls. You can buy just about any medicines you will need here, so I don't pack them. There are a lot of ex-pat docs in HKG. They are spendy, but your hotel will generally steer you to one if needed. You always hear about outbreaks of chicken flu, but needn't worry about this.

Driving:
Right-hand drive here, like the UK, so be extra careful when crossing the street. Look right, since that's the side of the closest oncoming traffic. HK drivers and cabs DO NOT give way, so wait for the green lights and jaywalk at your own risk.

Pollution:
Lots of diesel-burning cabs here and odd smells wafting up from the streets. Asthmatics and allergics should have their meds with them. Pollution is pretty bad in areas that are away from the harbor, due to stagnant air. This is mostly in Kowloon. HKG Island is mostly covered with steep mountains and forests, so it's not as bad.

Climate:
Best time to go is in the temperate Nov-April range. I go about Dec/Jan when it is about 50F to 75F and sunny. In May it begins to get hot and humid and summers are notorious for monsoon rains with "Red Rain" days where all schools and public offices can be closed.

Tipping:
A service charge is generally added to all bills in restaurants. Leave the bartender your coins, not more than 2-5HKD. Porters about 10HKD. Just tip cabbies your extra coins or round up to the next whole HKD. Don't tip more than 2 or 3HKD.

People:
Everything in HKG revolves around money. Everything the people talk about is money-related. How much are you making? How much did you pay? How much was it? Etc...betting and gambling, and prayer to gods of luck, as well as lucky charms are all a big part of life here. There are odd traditions of money-giving for funerals, weddings, birthdays, etc. The obsession with money can be disgusting at times.

The Cantonese can be some of the rudest homonculi on the planet, as a group. In many mass transit situations it's a complete scrum to get on and off. It's just how things are done, but I confront them when they're being intentionally rude. Of course, I'm pretty tall for these parts, at 5'10", but most quickly apologize. Some shopkeepers are also rude and live by the caveat emptor philosphy. BTW, don't buy jade off the street, it's probably soapstone.

However, the Cantonese as individuals are some of the nicest and most accomodating folks I've met. I think a lot of the rudeness comes from the overcrowding and the daily struggles of survival, and obsession with upward mobility, as I mention above. I have a Cantonese friend and have found him to be a gracious host and guide. As with all life in the big city, the crowds are faceless and rude, while the individuals are pleasant and interesting.

A word on the numerous Filipino maids you will see about. One of the most deplorable aspects of HKG life is the fact that a Filipino (or person from another poor country like Cambodia, Indonesia, etc) can be hired as a live-in domestic for about 200USD/month. They do all the scut work for their Cantonese taskmasters and are often mistreated and forced to sleep on cots in kitchens due to the lack of bedroom space in the typical HKG household. One Cantonese woman was prosecuted for putting a hot iron on her maid's hand after she accidentally burned a shirt. On Sundays they are turned out on the street en masse for their one day off. They usually congregate in the HSBC bank lobby or in the parks in Central with their bags, picnic blankets, and tupperware containers of snacks. If you want to see something that is uplifting (in terms of camaraderie) and also disgusting (in terms of treatment), go have a look. I always make sure to walk amongst them and remind myself that I have it pretty darn good.

Food/Drink:
I could go on forever about this, but I'll stick to the basics. There are tons of Michelin-star quality restaurants in HKG, many in the hotels which boast European chefs of the highest caliber. There are also tons of small Cantonese restaurants with medium-priced fare. Some places will only have menus in Cantonese and won't take orders in English. There are also noodle carts and food stands in the markets and outside some apartments. These are called dai pongs, and you can get really cheap food here. A bowl of instant noodles with cabbage and a fried egg is only about 10HKD. Eat at your own risk.
You can pay as much for food, or as little for food, depending on your taste. Variety abounds and there are restaurants of every ethnicity in this town.

In terms of the nightlife, most of the action is in Lan Kwai Fung, where all the good bars on HKG Island are. Dress is casual to trendy depending on where you go. There are a lot of bars tucked away in tight alleys. Most of the bars I went to were still there, but about a 1/3rd evaporate each time I come back. The bars in Lan Kwai Fung are mostly filled with rowdy ex-pats. The hotel bars are also quite good, but can be expensive. C-bar/club and Club 97 are quite trendy.
Wan Chai is also famous for it's rowdy bar scene. This is within walking distance of Admiralty and the Grand Hyatt (see my review) off Lockhart Rd. Lots of transvestite hookers to be seen, and the sailors tend to hang out in Joe Banana's, an infamous meat market. Lot of expats hang out at Mes Amis. Make sure you try the Kebab place across the street. You can also check out Carnegie's which has railings on the bar so you can dance on it. The US Navy was banned for ten years from Banana Joe's back in the early nineties for brawling; this may be an urban legend.

Special note should be made of the Philippe Starck designed "Felix" in the Penninsula Hotel in Kowloon. Just go there and have a look. Make sure you use the men's toilet. Trust me on this. The place has been loaded with the hordes, so I haven't been there in a year, but it's worth a peek. Stunning views, even from the men's room.

Another special note on seafood. If you love it, then this is your paradise. DO NOT go to the tourist traps in Aberdeen where the "largest floating restaurant" is. These are absolute wastes. Overpriced, with food that the chefs consistently ruin. You need to go to one of two places, both on the Kowloon side. Le Yue Mun is on the eastern edge of Kowloon, and Sai Kung to the north. Both are hard to get to. I prefer Sai Kung. You have to take the green line on the MTR to Tsui Hun and then take a minibus or cab to Sai Kung. It's worth the long trip. You will be greeted by aggressive hawkers all beckoning you to look at the live seafood in their tanks. Choose wisely, and ask your hotelier to recommend a place. Most good places are on the waterfront. I recommend you try the pink (S. African) abalone. It's chewy and odd, but you don't see it in the States much. A spiny lobster is good, as well as the Pei Ying (sp?) shrimp which should be done salt and pepper fried. Steamed scallops are also good. You can pretty much eat anything that swims or crawls in the ocean if you so desire, so dig in. You'll eat with your hands a lot of the time.

Things to do:
I could go on forever on this one too.
Here are some obvious high points.
1) Victoria Peak. Go early and on a weekday. Take the tram up from the departure point in Central. You can use your Octopus. The view at night is stunning also. Tends to be crowded on weekends and holidays.
2) Port Stanley/Repulse Bay. British ex-pats mostly. Cab or bus over the hill or through Aberdeen Tunnel. Not much going on here. Lots of cruddy souvenirs and no bootlegs at all. Fairly decent beach, but better to be found on Lantau. Kind of a tourist trap if you ask me.
3) Man Mo Buddhist temple. This is sweet. On Lantau Island (where the airport is), there is the world's largest outdoor seated bronze Buddha. You take the MTR Tung Chung Line to the end at Lantau and then take the bus to the top. The bus goes up scenic winding roads. Cabs are available too, but cost about 20USD per trip. Avoid on weekends and holidays. Very tranquil. Once again, use the Octopus. Asia-Disney is to be built on Lantau, btw.
4) The markets of Kowloon. If you can handle the wall-to-wall people, you may want to check out all the various markets in Kowloon. Nathan Road should be in your guide book, but there is also the Jade, Bird, Ladies', Night markets. There are also thousands of electronics stores tucked away in non-descript buildings. A word on buying things and bootlegs will follow.
5) Victoria Park. HKG's finest inner-city green space. Very beautiful and close to the Tram station. You can hit it on the way up or down from the Peak. You can also get a photo of the famous Bank of China Building.
6) Macau. You can read my pending review of this place. It will tell you how to get there and what to see. Macau is the diametric opposite of HKG. Lovely old-world feeling with old colonial architecture and historic monuments and Catholic churches.
7) Pacific Place Mall. This is in Admiralty, like I mentioned and has it's own MTR stop at Admiralty. Great mall with a movie theater and restaurants. Has most of the same high-end and medium end stores as Central, but enclosed in one location.
8) Star Ferry/Streetcars. You can access the Star Ferry terminal from Central Station. It's a bit of a walk. You should cross Victoria Harbor by boat at least once. It's only 8HKD and worth it. If you can brave the scrum, you can take one of the historic double-decker streetcars. Cheap, but an interesting way to see the city.

I could go on and on forever. There are tons of things to do in HKG and the city is forever changing. Use your Octopus card, guide book, and a little common sense to customize your own vacation. I've probably failed to mention 90% of the sights.

Bootlegs and shopping:
Lots of legitimate shopping here. Also lots of illegal stuff. The HKG Customs folks cracked down hard on the bootleggers, but you'll still find fake Louis Vuitton, Prada, Rolex, Polo, etc in Mong Kok. Mostly, they have changed one letter in the brand name (Prada to Prapa), but if you dig deeper the stall owner will pull out a fake that has not been altered. Most of the stuff is total garbage and I wouldn't waste my money on a fake shirt, bag, watch, etc. It all breaks within a couple of weeks and the quality is so terrible that any lay person can tell your stuff is fake. Haggle like crazy and never pay more than 30-50% of their initial offer.
In terms of the bootleg DVDs, CDs, and software, the following applies. Customs has cracked down and this selling does not occur on the street anymore. It has moved into semi-secret buildings where small stalls will carry the stuff you are looking for. There is no guarantee of quality. A regular tourist will never know where to find these places and unless you have a Cantonese friend, you'll be hard pressed to find them, let alone be able to trade and interact with these guys. These places get raided all the time. The lookout downstairs will radio the shops and they'll all lower their doors and lock up until the heat is gone.
My advice is to go to avoid the bootlegs. It's not worth the hassle. I got my DVDs in Kuala Lumpur's night market and they are true DVDs, not handheld shot POS's. Same for software.

Bottom Line:
Whew. Sorry about the length of this. Like I said, I want to give you the lowdown, not a sugar-coated review. Practical advice is what I value and hope to impart. Hope this helps. I do not consider myself an expert on HKG in any sense, but I think I'm qualified to say something on the topic since I go there three times a year.

The bottom line is that HKG is vibrant and never dull. There is something for everybody here and I never tire of it. Some may find the pace to quick, the air to polluted, the crowds too maddening, and the costs to high. Some will have the vacation of their lifetime. I can say with confidence that most will experience the latter. This is a great place to use as a hub for exploring SE Asia, or as a vacation.

Recommended: Yes

Best Suited For: Friends
Best Time to Travel Here: Dec - Feb