Try to go to everything, especially if you're living in rez. If you're off campus, I guess it's a little more understandable to skip out on things, since you have to get home at some point. But regardless, you only get to do Welcome Week once. Sure, it's terrifying as hell, particularly if you're not a social butterfly, but it's effectively a once-in-a-lifetime kinda deal (at least that's how I look at it).
I'm gonna compare this to prom for a sec. I didn't really want to go to my prom, since I'm not one to dress up or dance. But hey, you only get to do it once, might as well do it to say you did, right? So I went, and it wasn't anything amazing, but I'm glad I did go; I feel like I might have regretted it otherwise.
Obviously WW =/= prom, but you get the idea.
Even people who are being reps for WW in their upper years are doing it again because they enjoyed it so much the first time, but it's still not the same as when WW is for
you the first time around.
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Anyway, faculty day/night stuff depends largely on your faculty IMO. Eng faculty day/night, though rowdy, was pretty epic to say the least. I've heard from friends in other faculties though that their days were kinda lame. But, you get to meet people from your faculty, so you might as well check it out.
MacConnector (or whatever it's called, the thing where everyone gets on the field) is pretty awesome. MacDraft sounds pretty awesome too, but that's because I'm a pyro at heart, and this is the first year they're doing it, so nobody really knows what to expect. The socials for me weren't that great, but like I said, I'm no social butterfly (I kinda aimlessly wandered for about half an hour before being bored and going back to rez).
Oh, and DO SHINERAMA! Shinerama is awesome. Arguably my favourite event all week long. It's for a good cause, and you get to go legally panhandle people around the community, all while being loud and cheering and stuff. It sounds kinda silly and lame, but it's actually too awesome for words. So yeah, go to Shinerama, please please please, especially since the WW football game is the same afternoon (you can go to both, it's just relatively back-to-back). On that note, football game is good fun too (since we're playing WESTERN :p), because it's a crowd full of everyone NOT rooting for their team.
PJ Parade is fun too, but I think that's just how my experience was with it. I met two of my closer friends that night, staying up till 3am with the reps painting that sucker because nobody got it done it time, eating freezies and sitting on the sidewalk. I suppose it's possibly less exciting for everyone else. But it's the one time you will not only be not judged for walking around town in your PJs, but likely be commended on it.