Braunton probably wouldn't be a bad base for you. It is a 'surfer' type town, packed with holiday makers and those chasing the waves of North Devon throughout the summer.

It also has a reasonable night life, with three or four pubs (The Williams Arms - which also does good food - the Aggie and others) and plenty of places to eat (fish and chips, Thai, carvery, etc). Croyde is within 15 minutes drive, as is the largest town in the area, Barnstaple, which has a number of pubs and a couple of clubs (Toko being the most popular).

Beach-wise the beautiful Braunton Burrows and Crow Point (reachable by a small toll road and a trek over dunes) are also nearby.

I would not really recommend Ilfracombe, although it has a lot of eateries it is now quite a run-down place, sadly.

Woolacombe has a lovely beach, although it is PACKED in the summer. They do have surfing lessons there, though:

http://www.nickthorn.com/

It has a couple of busy pubs and a few places to eat.

Freinds/family have previously used the North Devon Surf School and found them to be excellent:

http://www.northdevonsurfschool.co.uk/