Warsaw is a big and booming capital, but it still doesn’t get as much attention from most travelers as does Krakow, for several main reasons. This city is growing out its tourist infrastructure as quickly as it can, and people are coming, but still it continues to be more expensive and a lot less charming than its smaller Polish neighbor.
There are plenty of decent hotels in Warsaw, with most of the better budget options in and around the Old Town area. A large batch of international-style hotels are going up there and in other districts, so the choice will continue to widen.
The main attractions and general transportation in Warsaw remain quite inexpensive by European standards, but most visitors will definitely notice the difference between this and large cities that were never under Soviet influence. There’s still a ways to go before things will be as friendly as they can be. Food and drinks are also quite reasonable, yet still more expensive than in Krakow.