You are safer there than in most of New York, though there are other areas that don't have as much of a rep as where you are. I have a couple single female friends who live in Wan Chai (and know, not the kind I pay by the hour--nice girls). They really don't report much of a problem. Usually they come home wearing a suit, as compared to the women in the clubs who are wearing thongs or something.
Guys will get grabbed, sometimes, by the mamas trying to get you into the club, but when you are walking with a woman, they usually leave you alone. I do remember one time I was walking about five paces ahead of the wife as I needed to get something and a mamasan grabbed me. I got away but when the wife came back her first words "you are going to wash that hand the minute we get home".