Other reviews say this street is crowded - well of course it is, you are in Shanghai! If you don't like crowds, don't go to China.
Nanjing is a huge pedestrian mall filled with shops and eateries. Yes, some of the shops are expensive, but most aren't, at least not by western standards. Stroll down the alley ways that run off it, see how the locals live and the shops they run.
It has a buzz happening all of it's own, and is definitely worth exploring. Our teenage kids thought it was a lot of fun. There are people trying to sell you watches etc, but if you are not interested, they generally take no for an answer.
Loads of restaurants for you to choose from, including McDonalds and KFC if you fancy a change from chinese food. But give some of the eateries a go, they are cheap and full of locals, a great experience.
There are a couple of bars in the midddle which are nice to sit in, have a drink and watch the world go by. Get your breath back and then head back out amongst it again!
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