Let me know when you're going to be here. I've been shooting in Shanghai for the last two years and will be here minimally through the end of the year or middle of next. I'd be happy to take you on a "photo walk." My work-in-progress 2010 gallery is mainly Shanghai stuff. The website is in my profile and while I mainly shoot street, I do branch into architecture on occasion.
For photo opportunities, I'd say avoid Xintiandi. It's an excellent safe zone for food and drink, but not much authentic to take pictures of unless you're looking to capture foreign and domestic tourists. (I live just behind XtD).
Huaihai Lu is a very long street and mainly what I call "Shiny Shanghai" as is East Nanjing Road (the pedestrian mall area). Shaanxi Lu is a North/South road that segments parts of the French Concession and some parts of it are interesting. Regrettably, Taikang Lu isn't off the beaten path so much any more. Still worth a visit to my favourite Thai restaurant in the city, but crowded and touristy.
I heard about a place last night that I haven't been to yet, Qibao. It's off the No.9 line. The people that told me about it said it was foreigner-friendly but one of the last "authentic water towns" within the core of Shanghai. I'll be trying to see it in the next couple of weeks.