The Sheraton has a great location (very close to Bourbon), so you could probably save some money and spend most of your time walking everywhere nearby. Given that it's one of the nicer hotels in the area, they may also have a shuttle to/from the airport--probably have to pay for it, but might be cheaper than a taxi. Not sure on that, though.
Bourbon St. is obviously a must-see, but also check out the side-streets and walk along the river a bit. Just be sure to stay in the populated touristy-type areas at night. Not trying to freak you out, but quite a few friends have been robbed when they wandered "off the beaten path." I've never had problems, though.
Edit: Oh, and unless you want to start tipping every random shoe shiner you see, don't stop when they ask to shine and/or start telling you a story.