Where would you/did you go after you graduated and why? How did you travel around?

I have two questions. Basically, my friends and I are planning a college graduation trip and I am just looking for ideas. We ruled out Europe since we have all been there already, as well as Africa - so Asia or Latin America. Also we are average college students money-wise, whatever that means.

1) Where did you/would you go and why? Just to get random ideas, but obviously the answers will be subjective

2) I am leaning towards developed places like China or Japan since it is easy to travel. For those who went to less developed places, how did you get around? Was the hassles of the inefficient public transit in places like Vietnam and Burma too much for you? What are some tips? And would it be better to stick to more developed places for less experienced international travellers?

Thanks