Dont let Bulls fans that have never been to Miami fool you. Miami is an awesome vacation spot. Last call at 1:30am is unheard of, most of the places dont close till 4am. Youre allowed to bring your drinks outside and into the next bar you hop to. Awesome restaurant choices. European babes sunbathing topless.
I never did the all-inclusive resort thing because half my family still lives down there and I can borrow a room whenever, but ive had friends do the resort thing and they loved it so long as the place was within reasonable walking distance from Ocean Drive.
The Cons about partying in SoBe is 90% of the restaurants on Ocean Drive are uber gimmicky and if you walk on the restaurant side of Ocean drive (as opposed to the beach side), you WILL be bombarded with Hot hostesses shoving menus in your face almost begging you to try some gimmick like endless crab legs or some stuff like that. Its a much better idea to go outside of Ocean drive when it comes to dining options.
Also as with any city with a killer nightlife, you might just run into a club or bar thats super hyped with a huge line that is huge for absolutely no reason. The place purposely keeps a line going so passerby's can say "oh hey! that place looks packed! must be awesome!" but its probably nothing and you will still have a blast in most of the "regular" looking spots.
If youve got an extra 300 dollars to throw out the window you can rent a lamborghini for a night and show up fashionably late in your best Miami Vice-type outfit to all the spots like a boss.