I went to Shanghai for a short holiday in april 2007.
Firstly, ONLY go to China during Spring or Winter. Because it gets so freaking warm down there easily. And with all the pushing and the crowding and the ABSURD lack of trees, you can get fed up easily and will ruin ur holiday mood.
Next is, Shanghai is seperated into Pudong and Pu Xi. Both have F.Arked up jams. Serious..really serious jams. Its a place where Tour guides call it : DU CHENG. DU in Chinese meaning JAM and CHENG in chinese meaning City.
Do go to both Puxi and Pudong. you can see how much urbanisation planning has been put into Pudong. And just near THE BUND, there is a slightly not so urbanised area. its like NEW TERRITORIES in Hong Kong. Very beautiful place. Not something you can see in Singapore, albeit not a tourist attraction.
Food wise, its inexpensive. But of course, common sense will tell you to eat their local food. What for go to Shanghai and eat hamburgers? Try their TANG BAO(SOUP BAO) or XIAO LONG BAO. TOTALLY ROCKS. Its very cheap too! Like 20RMB for 10pieces = $4 for 10 pieces(XIAO LONG BAO). Their Dim Sums are great. Must try. But of course, mcdonalds and KFC are also found but thats pretty much of a fast food restaurant you will find. its also inexpensive. I got a quarter pounder burger itself for 12.50RMB which is like $2+. And Don't expect them to give chilli sauce. Its just not the norm for them. And there are numerous push carts that you will see that sells a delicacy called ONION PANCAKE. it looks just like a prata but has that onion taste. Costs 0.70RMB each. Cheap. Their fruits are also good! Fresh and cheap. Just buy their local food.
If you do enter a Chinese restaurant, the food are regular priced. Don't expect a bargain. Expect to see too much oil, too much salt and too much of MSG. But their rice grains are huge and delicious. Just ask for their local delicacy they have to offer. IN shanghai its usually xiao long bao. And order a bottle of beer. Its low in alcohol content.
Also, try the BBQ Mutton. Which mentioned earlier in another bro's post. Its VERY VERY INexpensive. 2RMB for 4 sticks.
Shopping wise, nobody, and trust me, nobody will ask you to go to their departmental stores. Its just..STUPID. It looks exactly like OG. And their clothes pricing are WTF!!! its really really really expensive. Their prices make the pricing in Singapore look like its a great bargain.
Fake goods are not exactly easy to find. Cheap goods are aplenty and inexpensive. A very well made imitation Adidas shoe cost 80RMB there while SIngapore sells it for like $140? But just learn to bargain. I was so good at bargaining i got 80% off. =)
For transportation, you can try the MRT or whatever you call it there. its again, inexpensive. DO NOT TRY THE BUSES. its crowded and it looks as if it was produced in the 1980s with the layers and layers of dirt accumulating on it. Taxis are like pretty cheap. Good way to travel around. But, most taxi drivers are bad at navigating. Always take a name card from the hotel u stay in which will DEFINITELY have a map of the hotel's location printed on the back of it and show it to taxi drivers when they go "HUH" at the location.
Well, now, about the people there. There are many, and i really mean, many local people trying to sell their pirated goods. They will usually hold up their catalogue and chase you around and force you to see their catalogue. Just show them the BLACK Face and just walk away. they will stop chasing you. And never ever follow anyone around.
Also, they are just KAN CHIONG. They are pushy in nature but many are helpful when they see you are in need of directions or basic help. Also, Smoking is allowed practically ANYWHERE. They do spit but not at anybody.
lastly, is my MUST TRY list.
1) take the maglev train. 40RMB for a single ticket from Pudong Airport to the next stop.
2) Try the food
3) Go to THE BUND and pak tor.
4) Reach the 2nd ball of the DONG FANG MING ZHU TA.(opposite THE BUND)
5) soak up the cool and strong windy air at THE BUND.
6) Buy fake goods!
7) See the less urbanised areas.

do what they do, LITTER! I littered alot there, while eating GUA ZI. haha
9) Go to NANJING LU. Its beautiful at night.
10) Visit Cheng Huang miao
Thats pretty much for Shanghai. But usually if you go to China, you will stay for 7 days or so. But i think 7 days will get u bored easily. Try Suzhou and Hangzhou. I went there too. Its worth it. many many things to see. Learn the history of Suzhou, about the battle, its silkworms and many more. Expect to see many germans as i've had.
and lastly, dont call them by XIAO JIE because to them its referred to prostitutes. Try lets say their surname is TAN which is CHEN in chinese. Try ending ALL salutations with a GU NIANG or starting with a XIAO depending on seniority. So its either CHEN GU NIANG or XIAO CHEN.
enjoy =)