Just to bump and update an old thread, I lived and worked in Minhang for 3 years. Xinzhuang is, as Raoul says, very well connected transport wise, and has a lot of new, relatively upmarket housing. Several of the teachers at my Uni lived there, and we visited frequently. Also, the light rail connects to the more distant reaches of a huge local government area, which is essentialy what Minhang is.
Further out, close to the river bend, you are close to rural China, just a 5 mao ferry ride away. I lived on the city side of the river, and loved the small city feel of the area. It was interesting and vibrant, and prices were nothing like more upmarket areas of Shanghai.
The mildly prestigious Jiaotong Daxue is also in this area, with all the perks of good cheap food, CDs/DVDs, music instrument stores etc.