Challenging lines, One of the best resorts anywhere in the world, Olympics!
No Apres-Ski, but that's not why people go to Tahoe.
Best mountain in Tahoe, hands down, no contest. Massive amount of terrain, variety of terrain: everything from the most extreme 'in-bounds off-piste' skiing (Palisades) to an extensive beginner program, and awesome powder. If you like to hike, the Granite Chief bowl (skiers left) has fantastic powder, The Palisades has epic chutes, and Broken Arrow peak has several lines for those who need to show off for the cable car. KT-22 has some of the most challenging runs anywhere. The mogul masochists can get their fix on the face of Headwall. The tree runs down to Shirley are fun to cruise when the wind keeps the top from openning up, but the hidden gem of the mountain is Granite Chief. While not as challenging as KT-22, Headwall, etc., it's tucked away location keeps the lift lines short on crouded days and it usually has the best snow when the wind keeps the other peaks closed. If you can't find something here to keep you happy, turn in your rental equipment, go home and promise to never come back. You are taking up space.
As for the new resort renovations, please stop. It's never going to be an alpine ski town in the Alps, or Vail, or Aspen, or whatever they are trying to make it. Squaw has the feel of a mountain near the California/Nevada border in Tahoe, which is okay because it is a mountain near the California/Nevada border in Tahoe. Tahoe has one of the most unique feels of any ski area in the world. The Alps are about the Apres-Ski, Colorado mega-resorts are about the 'scene' and being seen, and Tahoe is about the skiing. To quote a great man, "I yam what I yam, and that's all that I yam!" (Popeye)
There is no real Apres-Ski scene in North Lake Tahoe. Bring friends, and find a bar: Apres-Ski.
Top five ski resort, anywhere.