General "visiting London" tips:
Make sure you bring more money than you think you'll need. Because you WILL need it. Buy a travelcard to get around (and ask for a tube map). Watch out for pickpockets on the tube and in stations. Don't get in any unlicensed minicabs.
As for what to see/do, that depends entirely on what you're into, where you're coming from, how much time/money you have. The Metro is a daily free paper that has listings of what's on (gigs, etc) that day all over town. If you can't find one (they go pretty fast) buy a copy of Time Out.
Free stuff?
~The Tate Modern, yes, is a great one. It's huge, has an excellent collection of modern art and is free entry.
~Camden. Costs nothing to wander around looking at all the stuff (and all the people). Plenty of record shops and small music venues.
~Soho. You'll probably get lost, but there are lots of nice porn shops and sushi bars for you to get lost in.
~Highgate Cemetery. Very very creepy. Only one side (the East side) is free to walk around. The West side you have to pay for a guided tour.
~The British Museum, The National Gallery, The National Portrait Gallery, The Royal Academy of Music Museum, The Natural History Museum.. all free and great.. if you like museums.
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