This place is lively and Beautiful. Its Historic Center of Cusco and people roam around till early Morning. I was there on Halloween Night and Peru celebrates it serioisly. Till Morning 5 everyone was up and celebrating it in Plaza De Armas. All the main Functions/Ceremonies happens here. Like Military walk.
this is a great place to get your bearings before you set off to see all the local historical buildings and cathedrals. you will also find it the tourist information in this area which are very helpful I will prevent you from being tricked into buying tours by unscrupulous dealers. there are many restaurants in this area but they are expensive and you can get cheap meals if you are willing to walk up the sidestreet