Makumba African bar with live African music in LKF is undoubtedly the best bar in HK by far...
The beer bay is great for drinking during the day. Pier number 3 at central. Very cheap (for HK) and you get to hang out at the harbor and watch everybody walk by. They have cider and beer on tap for about 35 hkd and lots of imported bottled beers and even some mixed drinks.
Tai lung fung and teds look out are both classy places in wan chai far south of lockheart road. Usually a lot of young designers drink here and many ladies you'd actually want to date. Tai lung fung is a bit cheaper than average to average prices and ted's is a bit pricey for being off the beaten path (about same price as soho).
There is a Mexican Restaurant in Wan Chai called, I think, Margaritas or something. It is across from another called Coyote.
Anyway, it has good food, a good atmosphere, but best of all, I had some time to kill, so I had two excellent Bloody Mary's and the bill was around 100 HK