I don't hate Hollywood. The area around the W hotel, (Hollywood and Vine), has been developed like a MoFo over the last 10 years or so and it's booming and pretty safe. Touristy, (always has been), but lots of nightclubs and just good walking around place. I just shopped at the Trader Joe's in the same structure as the W Hotel about an hour ago and it's pretty cool. That corner used to be the Hollywood DMV, a real buzz-kill, now it's a much happier place. For Halloween, it's absolutely bananas and I'm keeping my old ass inside tonight. If I was younger, I'd be out for *National Dress Like a Slut Night*.
Parts of downtown L.A. are awesome, (notably Little Tokyo/arts district), but unless you have a tour guide, you'll never figure out where to go unless you get real lucky. Chinatown and Alavara St. is a cool area DT as well. These are all "park and walk around" things, not driving things.
I think staying in Hollywood is a great idea, especially if you have some people there from your show. You'll have a ball. Pasadena is a beautiful area but boring for a young tourist. (Assuming you are young). Keep everything central if you're here for a short spell. The drive from Hollywood to DT is a short cakewalk.
If you want to hook up with another Mpls. person in L.A., shoot me a PM with your # and I'll try to meet up with you when you're here. I'll probably go to the auto show.