Governor's Residence is very nice and the area around there is nice as well. Much nicer than staying downtown at Traders or even the Strand. The decor is much more asian and it has nice grounds.
I think I wrote in another thread. Inle Princess .. we also took a day trip with/to Pa-O village and temples. We were the only ones there (our group of four, guide, and a wonderful woman from the village). Were able to walk around a village and enter homes of the villagers. The market place on the far side of the lake is an adventure as well, market day is several times a week. It is a local market, foods and vegetables, but we came home with some unusual kitchen utensils. How much time do you have? The cruises can be for 3 or 4 days, we did 3 and then 3 days in Inle Lake, and of course, we wished we had more time, but even less and Im not sure you see much.