I have been to Nice many, many times. It is great to walk around the core and the pedestrian area.
I agree with others that the hilltowns nearby are really worth doing - St. Paul and Eze. The market - Cours Saleya is wonderful. Lots and lots of flowers, local stuff, etc. Around this area are some wonderful shops to buy local goods and olive oil.
The Negresco Hotel has several, very marvelous Niki de Saint Phalle sculptures and is a great place for a drink before dinner.
L'Ane Rouge (7, quai des Deux-Emmanuel) is one of my favourite restaurants.
As others have mentioned, Cannes has some nice shops but I prefer Nice because of the character in the downtown core area and the Promenade.