I would suggest interaling. You can still drink loads, learn a lot more, party hard, learn new culture, experience travel.
I think you will find that you will be doing enough partying and drinking at university anyway and after a few days you'll feel like **** on lads holiday.
Go for the interaling. Staying in a hostel dorm room in europe and meeting foreign travellers, going partying with them and running around a foreign city is much more fun than going to a place full of british people with bars and clubs and nothing else to do and staying in one place.