I alternated between the Four Points in Daning and the Sofitel Hyland on Nanjing Road. The Nanjing Road was definitely the best location of the two, though the Four Points was the better hotel.
Bar Rouge on the Bund was a favourite haunt, a little pricey, and well known for being frequented by "ladies of negotiable affection", but the view is impressive (and I mean of the city :mrgreen
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For food, one place I went back to several times was the Coconut Paradise Thai on Fumin Lu. There was also a damned good French restaurant that I can't remember the name of.
Xintiandi is well worth a look for a European style eating out/drinking experience.
(why no Chinese restaturants of any description? Because after you've had Chinese for Lunch every day, and there are many many good Chinese restaurants of all regions that are pretty cheap, you'll probably want a change. I know I did!)
The Metro is very cheap and simple to use, and the Maglev is an excellent way to get to and from the airport. Ridiculously cheap too. Taxis are inexpensive, but most drivers don't speak a word of English, and the usual problem of fleecing tourists exists.
The fake market (walking distance from the Sofitel) is worth a visit, but you have to bargain hard.
If all else fails, a flight up to Beijing is cheap and easy to do for a weekend, with all the sights that can be seen there (I preferred Beijing by a long way) the Great Wall, Forbidden City, Summer Palace....
Enjoy.
