There is no way I would ever consider taking Aidyn out to that sort of party... I just wouldnt do it.
There were a few events & gatherings over Christmas that we attended, which went until after his bedtime, however they were more family BBQ type gatherings, with other kids around. Although there would have been some alchohol and quiet music.
As a rule I try to avoid taking him out past his bedtime more than necessary, as it can make the experience very un-enjoyable for myself when I have to spend hours settling a screaming and unsettled baby/toddler, when everyone else around me is socialising and having fun.

I guess it really depends what you like to do as a person.
Me and DP are homebodies anyway, and dont really have a raging social life... if it was more important to us, then we would probably have tried to adapted Aidyn a bit better to suit that lifestyle... though having said that I would still never take him to a loud, smoky party!

Are you able to get someone to babysit for you whilst you go to your friends party?