Bellagio is a very picturesque city by the lake. It is a good city to go to for those who love to walk around in a quiet and quaint place with lots of nice small shops and hopping from one lovely adjacent town to the other by boat.
It is quite expensive though so be prepared to spend a considerable sum for food, accommodation, and for shopping. And travel is difficult if you're lugging around your big bags. Travel light when going to this place because you will be carrying your luggage from the train station to the boat to the cab that will take you to the hotel (if the hotel is not located in the city center).
Downtown Bellagio is really beautiful and atmospheric. There are excellent restaurants in the city/village.
Unfortunately the gardens had just closed for the winter season when we visited in the beginning of November.