I'm not sure if I can still remember the correct places, it's been a while since I've been to HK. This is the guaranteed foolproof way to find your way to audio heaven there: the moment you arrive in HK - get a coupla HK audio magazines (audiotechnique, audiophile, hifi review etc) which are available in most sidewalk or magazine stalls. They are full of ads.
Wait - some of the addresses are in chinese character though hehehe.
I suppose walking along the streets of Mongkok, as well as a couple of floors of Ocean Terminal in Tsim Sa Tsuy alone will have you seeing and hearing exotic audio stuff in no time at all. There's also the Caroline Center near Excelsior Hotel. There are many shops in Central HK too, but mostly in high rise suites so they are not easy to find unless you know the exact address.
Here are the more prominent hifi dealers in HK:
Excel Hifi (sonus faber, halcro, levinson, audio research)
Radar Audio (proac, duntech)
Elephant Radio (AN UK, Roksan)
Audio Supplies (conrad johnson, gryphon, ensemble, martin logan)
Jadis Electronics (jadis - obviously hehe, ayre, boulder, acoustic energy)
Sound Concepts (ATC, Acustik Labs)
Absolute Sound (Naim)
Encore Electrical (Harbeth, Exposure, Epos)
Richcom (Unison Research)
As for CDs, the last time I was there - CD in HK was already more expensive compared to here. Normal CD is priced around HK$100 to HK$125 there so imagine the price at a roughly 7:1 conversion ratio.
But you do have a whole lot more choices there. (went home with 25 cds the last time around, my poor credit card was massacred) The HMV in Tsim Sa Tsuy (5 or 6 floors) will have your wallet wishin that you didnt enter the store hehehe. Sometimes, bargain CDs are available in the smaller shops / stalls but they are not arranged so you will waste a lot of time finding CDs. Not recommended unless you are staying in HK for a long time.
As for the places to eat - it would be tough to eat HK/chinese food if you cannot read chinese characters. (especially because they have different definitions of steak, burger etc over there!) There are however the usual fastfood there: Mcdo, Pizzahut etc so if you want to be safe ... Meron din pinoy dishes sa mga places na puntahin ng mga DH hehehe ...
Happy trip btw. As for your pasalubong ... hehe a pair of Cremona lang, pwede na.