Isla is not known for its high-octane nightlife so depending on what you mean by "clubbing" you may better off in Cancun. The problem with that, however, is that clubs don't get started until very late and unless you're planning on staying out all night, you won't get a ferry back as they stop running around midnight. Just about the time clubs are beginning to wam up.
If you are happy with a more low-key nighlife, Isla does have places with live music: Fayne's, Fenix, La Terazza, and then there are the nightly beach parties at the Poc Na hostel that get started pretty late also.
"to-die-for" food is very subjective; something I may consider fabulous you may hate and vice versa, and in general, while the food is very good on Isla, I really wouldn't characterize most places as serving to-die-for food (though I'm sure I'll get flack for this, lol). However, many places are known for certain things they make very well, so you may give them a try. The black bean soup at La Lomita (or so people say; never had it); the olive chicken, Moroccan fish, or shishlik at Olivia; the vitello tonnato or fish carpaccio at Rolandi on Hidalgo; the wood oven roasted fish at Villa Rolandi; the tikinxic at Brisas Grill; and so on.