Seems like a pretty cool place. I'd love to live in Shanghai or Shenzhou for a couple years someday. It's funny that a lot of the warnings on expat blogs and the like ("Dirty, crowded, noisy, strangers are really rude, everyone's out for themself...") actually seem like pluses to me. The politeness and sterility of a place like Tokyo would drive me insane. I think a lot of those perspectives are coming from people used to suburbs, because to me, it sounds like home. The other big warning ("Can be super cheap if you live like the locals, but the temptations of trying to live a Western consumer lifestyle can quickly ruin your finances") doesn't really faze me either, as I've become accustomed to doing without a lot of things the writers tend to take for granted. Wouldn't know for real until/unless I went there, though. (For the record, I live on about 13k/yr in New York, with well over half going toward rent. So I've learned to cut out any non-essentials.)
Other than that... hate the politics, but I can appreciate that most Chinese there wouldn't want my opinion anyway, and I can recognize the parts coming from the US media just not understanding Chinese culture. The history's fascinating, particularly the Tang and Song Dynasties. Overall it seems like a place that has a certain optimism about the future that doesn't really exist in the US anymore.