Nightlife
La Piedra Feliz
A more expensive and touristy club that often features salsa dancing, mosty for the older crowds
Mascara
Caters to an artsy and gay/lesbian crowd
Club El Huevo
One of the largest dance clubs in valparaiso
Many clubs and bars are also found in Viña del Mar. Public transportation and taxis continue to run throughout the night, making it entirely feasible to have accommodations in one city while going out for the night in the other.
La Torre
Offers inexpensive drinks, and is frequented by university students
On weekends, the time to go out for a drink Chilean people call it "salir de carrete" starts no earlier than midnight, though somewhat earlier during the week. The pubs and clubs close at 5 AM on weekends, and 4 AM on weekdays.
Drinking alcohol in the streets is not allowed and 18 years is the minimum age for drinking alcohol, though enforcement of these rules is somewhat lax. If you are under 18, you may not be allowed entry into some pubs.
Chile is a major wine-producing country, and bottles of fairly tasty wines can be had for slightly more than US$1.