Not sure about the jumpseat but I have been there 2 times for vacation .. once for a bachelor party and the second time with another group of friends ... crazy times.
Old town is the place to stay a lot of cathedrals and sites (Astronomical Clock) all within walking distance.
Food joints in old town especially by the astronomical clock are very expensive, but are good for a morning coffee and breakfast.
The hotel I stayed at was called Ventana, 5 star hotel , booked the Deluxe Loft
Ventana Hotel Prague - De-lux Loft Room
came out to 150 euros a night which was a very good price at the time I went .. maybe with the dollar exchange now it might not be as worth it.
Regarding the bar/club/cafe scene, check out CAFE CAFE (place is full of models) , check out KU Bar which is directly across the street , Texle Mexle nice bar music is a little loud though and La Frabrique.