For this New Yorker, three nights were more than ample in BKK, but it depends entirely on what you're accustomed to and what you're looking for during your travels. I basically checked out the Grand Palace grounds and then spent the balance of my time within the Oriental Hotel compound. I found the city crazy and chaotic. The heat and humidity made it all the more unpleasant. My favorite thing to do on my travels is walk, but it's next to impossible in BKK. I found it difficult to even cross the street without being hit by the crazy traffic, and I quickly understood why the concierge was shocked when I said I wanted to walk on a route that looked to be only a couple of miles. Meanwhile, I found it difficult to use taxis: a US$2 cab ride became $20 for us farangs, and I had trouble negotiating below $10. Worse, I have no idea where I'm going, so I'm in constant fear of being taken for a ride far afied and facing further scams (however unreasonable this fear; it's largely a function of me not understanding Thai). My better half and I are obvious farangs, with our blonde hair screaming out "please harass me with tuk-tuk rides, foot massages, gems, and other crap I don't want".
Chiang Mai is slow-paced if you want to trek up to the north. I'm still not sure of the attraction apart from luxuriating inside a posh hotel. Meanwhile, Thailand has beautiful beaches, and that's probably what would motivate me to return.