In short
The Chengdu research base holds several dozen giant pandas. It is the most accessible place in the world to see them, and the animals are active early in the morning.
Chengdu is also the gateway to western Sichuan and the Tibetan plateau: Jiuzhaigou, the giant Buddha at Leshan and the western mountains are a few hours away.
What it really costs
The city is markedly cheaper than the east coast, with an extensive metro and plentiful housing. It is one of the most affordable major Chinese cities.
Sichuan cooking is eaten as hot pot and costs little. The tea houses in People's Park are a local institution for a few yuan.
What nobody tells you
Pandas sleep most of the day. The base opens at half past seven and the animals feed in the morning: arriving after ten means looking at motionless balls of fur.
Travelling into the Tibetan areas of western Sichuan can require permits depending on the period, and access changes without notice.
The sky is very often overcast: Chengdu is known for grey days, caused by the Sichuan basin. That is not pollution alone, it is the climate.