My friend and I are going to Montreal to celebrate an over 30 year friendship and we have no idea where to stay or what to do. We're looking for some ideas. Going in February and would like to get in a bit of sightseeing, shopping and out for drinks.

Any suggestions?

We really enjoyed staying in a B & B in the Plateau area. It is close to parks, restaurants, metro, etc.

There is so much to do in Montreal. However, you realize that in February it will be bitterly cold. I agree that the Plateau area, which is roughly St Denis to St Laurent above Sherbrooke, is the most interesting part of the city. The streets in this area are lined with small cafes, byob restaurants, bars, and all kinds of interesting shops. However in the winter it may be preferable to stay downtown, where you have access to the underground city if the weather is very bad.
If you've never been, definitely visit the old city and Notre Dame. There are lots of fun places to eat and have a drink in the old city, and it's very picturesque. However, it's also a bit out of the way, so not the best place to spend several nights.
Visit the website for the 'Hour' and the 'Mirror', which have good rundowns on Montreal's nightlife.

I love the bars and lounges around St Denis and Mont Royal. A great, vibrant area and good nightlife choices for people 35+ looking for fun atmospheres without the college kid drunk crowd. One of my favourites is Bily Kun http://www.bilykun.com/