Lots of great info so far in this thread, which I won't repeat. I will make a few observations from my 20+ years of going up to Mammoth.
The first couple of years I stayed a MMI, and quite liked the isolation/quiet. For the most part I just ate up there and didn't bother with driving down to town. However, a group of guys will probably want to explore more than I did.
After that first couple of years I hooked up with a couple of ski clubs. One uses Horizons 4 condos. The other uses Mammoth Creek condos. Both are in town, near Von's, the only grocery store in town for the most part. Horizons 4 is a not too far walk to Von's. Mammoth Creek you'd probably want to drive or bus to. Both complexes are convenient to bus stops. And since the condos are privately owned, there can be some variability in decor/upkeep.
If given a choice, you might look for an option with garage parking. A 4-6' dump makes for quite a chore digging your car out. Particularly if you leave it for days or the week and Mammoth gets a couple of storms in a row.
That said, my usual modus operandi is to drive up the the lot at Chair 2. To get a spot in the lot on a weekend day, you have to get there by 7:45 or so. Earlier if there are freshies. I like parking there because then my car is my locker, and I can switch skis or put on/take off a layer if the need arises.
Yes, the condos listed along the Village Gondola are not ski from/to. However, during one particularly epic dump, I skied on the road down to the gondola before they got it plowed.
Since you are planning to be there for a week, you'll be amazed at how deserted the slopes are mid week. Mammoth really amounts to a weekend operation, when it seems that all of Southern CA has driven up.
You'll have a great time wherever you stay!