We were in Menaggio for 2 days on a 5-day trip (Bellagio and...
We were in Menaggio for 2 days on a 5-day trip (Bellagio and Varenna were our other stays). Menaggio is a smaller town which is a crossroads where the road heads north to the mountains / St. Moritz etc., the road that goes up and over to Lake Lugano, and the ferry port. It's an excellent point to use as a home base for exploring the region, plus there are a number of excellent hikes in the immediate area.
The town itself is rather typical tourist Como, which is to say it isn't really touristy at all (and surprisingly un-commercial). Granted, we were there after all of the water activities had shuttered for the winter, so it was lovely and peaceful for us. Looks like it's busy in the summertime though - offers of boat rentals, mountain adventures and hikes make it look like a place with a lot to offer.
There are a number of small restaurants and shops in the walking village - it looks like you can get whatever you need. The view east over the lake towards Bellagio and Varenna is of course spectacular. Lots of great villas and attractions up and down the west side are easily accessible by car, bus or by water.
We stayed at Villa Giuliana, a small, brand-new 5 room guest house right in town. Everything is new and the hosts are fantastic - I'd strongly recommend considering staying there if you prefer small B and B's over hotels.
Overall, I would definitely return to Menaggio and would like to do a lot more exploring of the mountains, hikes and water.