Here is a little more for those interested in going...
We stayed at the Paris Hotel and paid 200 Euros per night. Hopefully you can do better value wise. I was so taken with the city that I checked a couple of hotels for next time. One of which was this one:
http://www.pragueholiday.cz/evropa.htmlMy father and I had drinks in the one dining room after a Mozart concert elsewhere. The staff were having as much fun as the customers (maybe more). Once they found out we could speak german (the most common 2nd language there it seems) they wanted us to hang out and dance with them, etc. That is a gorgeous hotel, right on the main drag. The prices they gave me in person were higher than that website says so I would double check that.
They have had a lot of trouble with currency exchange hustles so the government makes the local change bureaus operate with no commission buy or sell. Bottomline: exchange whatever currency you want when you get there and don't be worried about commission and how much you will be changing back. Be wary of anyone offering to exchange money with you -- even after you say 'no' and step away because they are a thief and have marked you as a tourist.
If you are a fan of music -- classical up through 1920's jazz, Gershwin, etc. Prague has nightly rotating concerts which are cheap (relatively -- $18 to $40) and you can buy same day right up to show time. Worth it and the venues are gorgeous too. Saw Mozart Best of type show inside the pictured building.
If you stay anywhere in the center of town you probably don't need a transit card. We walked to everything. Did the quickie bus tour when we first got in too.