A few tips for visitors:

Crime & Punishment :
Generally Madrid is a safe place to live and visit with very low crime rates compared to similar sized cities in Europe.
However you do need to be on your guard for petty thieves especially gipsy street urchins, both boys and girls who are particularly adept at relieving you of your wallet /bag.
At night the area around Gran Via can be dangerous with general low life on the look out for easy foreign pickings. Street Prostitutes abound on Gran Via after 2am and should be avoided like the plague.

In the event that you are a victim of crime, the centrally located Police Station in Calle Leganitos 19 behind the Gran Via at the Plaza España end provide a multi lingual help service for reporting crime

If you have been charged with an offence your embassy or consulate will have a list of lawyers that you can consult.

Getting Around Madrid :
In recent years Madrid has invested heavily in a modern and comprehensive transport system that operates 24 hours a day including up to 2am for the metro.For more information visit the Madrid Transport Website at Madrid Transport System
Taxis on the other hand can be very variable in reliability and service with poor linguistic skills ( sometimes on purpose!) and fare tariffs that can be confusing and occasionally misleading. Your best advice is to write down the address on a piece of paper. NB the word 2 Calle" means "Street"! Supplementary fares apply from airports, train stations, taxi ranks, special event zones eg the Bernabeu Stadium when there is a match and so on.

Timings, Tipping & Etiquette
Timings are generally much later than in other European cities, with the Siesta still firmly entrenched in Madrileño mind - especially weekends.However the central tourist areas do have shops and bars open throughout the day. Lunch is from 14.00 until 16.00 and dinner from 21.00 onwards with most ( decent ) restaurants closed prior to this.
Service is generally slow and apart from in better establishments poor by international standards hence tipping is not considered to be important. Calculate 5% or less for most places with a maximum of 10% for very good service in restaurants. For bars no tipping is neccessary.

Weather forecast for Madrid click on the link:

Plan your trip Local Radar Detailed Forecast

Miscellaneous

• Drinking Water is drinkable - in fact the purest of any capital as it comes direct from the Resevoirs in the Sierra Mountains to the north of the capital
  
• Banks and ATMs - banks open at 08.30 and stay open till around 14.00. ATMs abound
  
• Language - on the whole dont expect to find many English speakers
  
• Museums are closed on Mondays