I plan on going this year for the first time as well. The in-laws of a guy I work with own a bar near Rapid City and live in Box Elder, SD. I plan on staying with them. Wanted to go last year, but had to deal with my mom's estate after she passed away suddenly last February.
I have been four times…For a trip with the guys think about camping in one of the many yards downtown or one of the popular campgrounds i.e., Buffalo Chip. If you are going with mellow people you can stay out of town. I recommend Hill city…it is right in the middle of the Black Hills and you can take many day rides from here. I may be going again this year but our (my wife and I) primary trip this year will be highway 1 Northern California up to BC.
Weather has been good this year, Sturgis has some awesome concerts lined up and for the first time in years interstate construction is done making it safer for all who are traveling down this year. Rapid City is also making room for the motorcycles down town, hope all who come down this way have a safe and fun trip