Nanluoguxiang is a great mix of west meets east, you can walk to Hoi Hai lake from here, ten mins from the subway line. 10 mins in a taxi from Sanlitun bar street, in good traffic (not from 5-6pm) and ghost street on your door step for the late night hot pots.
Also on Nanluoguxiang you will find the best fish and chips in the city as well as a great curry house and the pass by bar and a good hostel. Best bet when coming to Beijing is to check out 'That's beijing' which will offer a good inside guide to the city.
Updates
The city weekend website is easier to navigate, but "That's Beijing" magazine offers a much more comprehensive guide of what's good/bad and what's going on in the city, and the magazine's blog is a fantastic read as well.
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