Well, I was fully expecting some shit-storm about how everyone hates New Orleans, Mardi Gras, and how my city sucks ass. Perhaps this Ethics Committee thing really is working!
Anyways, if you do Mardi Gras right, it's a blast. Skip anything downtown. Simply do not go east of the interstate into the CBD or French Quarter. If you stay uptown (residential), you get out of a lot of the crowds. You can always head a block away from the parade and hit a local bar.
Most of the local bars do some really cool stuff for Mardi Gras. One place I know has "celebrity" bartenders. You go in, and you could be served by Lenny Kravits, John Goodman, or Brad Pitt. And, they'll even invite patrons behind the bar to mix their own drinks and such.