Are you talking about the Red Tail down on Beach St.? If so, DUDE, you GOTTA go there on Wednesday night. Its ladies night and there's so much Daytona trash there its incredible.
But really, right up the street from Red Tail is McK's. Its an Irish pub with some good wings and a never ending selection of beer. Over on the mainland is Cancun Lagoon (unless it burned down, again) on Intl. Speedway Blvd. just east of the race track. They have an event called "Flip It Tuesday" where you order a drink and the flip a coin. Heads you drink free, tails you pay.
On the ocean side, there's Mai Tai bar and Adobe Gilas. Its in the Ocean Walk complex, along with the theater, Bubba Gump and Johnny Rocket restaurants and some other shops. Both are big hangout spots for the locals, tourists and college people. Don't try to sneak in on a fake ID though.
Whatever you do, stay away from the clubs, unless you want to have trouble going through metal detectors for the rest of your career.
If you're interested, I've still got a lot of good friends in Daytona that you wouldn't mind being seen with
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