This is what we did (travelling independently in 2008)

Day 1: Took a horse carriage ride around the temples with a local guide, cheap and cheerful.
Day 2: Cycled around on our own around the temples and nearby villages, absolutely amazing

there will be some sellers with sand painting and kids selling Burmese Days, but they are actually all very pleasant and sometimes interesting to chat to.
They are not by any means obnoxious like touts in India or Angkor.

We stayed in the town of Nyuang U in a guesthouse.

Also took a trip to Mt.Popa, if you dont mind climbing stairs in monkey pee, its worth a visit as well.