I am very familiar with the night life, gambling life you name it, and I can answer it.
I'm 31 and not to far out of the bar scene. I frequent downtown MPLS, and believe it or not the Mega Mall. It's great to watch sports in America's Orginal Sports Bar, pretty much everygame, and the regional games are on large projections screens.
Gambling was already mentioned, Mystic Lake nice casino, great redesigned buffet if your into food. The Grand Casino chain, another Indian owned Casino however further away. As for Canterbury Park, it is a great place to play cards. It is a card room with different variants of Poker, and then they have a seperate room called California games: Pai Gow, Carribean Stud, War (can you believe it), 3-Card poker (you'll fall in love with that! Best odds anywhere)etc.
My buddy is also the Paddock announcer out at Canterbury and does the nightly recap shows along with our radio celebrity Jeff Allen.
I know all of the exclusive fine dining restaurants, cheap but good eats, dancing/night clubs, gentleman's clubs, etc.
I grew up on the West side of the cities in Plymouth, upscale neighborhood avg income per household is $59,800. Maple Grove is a little further North but has grown unbelievably and is a beautiful suburb. Pricier than Plymouth.
Living in downtown will definitely be more than $1000 a month. But it really depends on what your looking for? If you are working in downtown MPLS I might suggest a St. Paul suburb near where I live. Roseville, New Brighton, Mounds View, Shoreview, Arden Hills, the make entering the east side of the city easier than all of the traffic coming in from the west.
If this didn't help or you are in need of more info, let me know. Jack can give you my e-mail. Just identify yourself!
dogface