Can't help you with restaurant/bar recommendations but I strongly believe Peninsula is by far the best choice in Shanghai. It's mainland China, so service is a problem at many hotels, I've tried Park Hyatt (which is Japanese-managed, but went downhill nevertheless), FS Pudong (progressing now) and, of course, Peninsula, which comes as close to excellence as you can get there.
Actually, the Pen Shanghai is one of my favorite hotel experiences - they do have some very caring staff members. Make sure to get a room or suite with Bund view - adds to the charm and beats Park Hyatt's sweeping views by a long shot, considering the smog on most days.