Don't forget Eastern State Penitentiary! It's without doubt over-photographed but there's so much to it it's not tapped out yet. You'll definitely need a tripod (the interiors are quite dim) but they're quite happy to let you bring one in, for a very reasonable ($12 or so for the entire year) fee. Depending on your taste in food, there is a FANTASTIC Italian place literally next door to Eastern State - L'Oca (the duck). While the atmosphere is upscale casual, it's not a bargain, so plan for it to be a special event meal. Jack's Firehouse is right across the street from Eastern State and is more relaxed and a bit cheaper, but the food is not on the same level.
Hotel-wise, I've stayed in two different places that were reasonably priced and reasonably convenient to Project Basho. The Windsor Suites is an ex-apartment building converted to a hotel, so the rooms are extremely spacious for hotel rooms. They have on-site valet parking.
For something a bit cheaper, but still quite functional, the Comfort Inn Downtown was also a good pick. They have on-site self-parking, and are quite near Penns Landing and the Colonial quarter. If you don't feel like taking your car out after you get back from Project Basho, they offer a free shuttle bus throughout the downtown area.
