Asks me what cool things to do nearby on the spot and I'll probably draw a blank. But say what you are doing instead and I'll probably go "oh yeah! That's brilliant! I love thing X".
I do know where good dog walking spots just outside Edinburgh are though, and I'm still regularly discovering more because I'm effectively a tourist ;).
Going to the festival (and the book festival, back when that was in Charlotte Square) is improved by leaning into your local status and knowing how to duck in and out. And ideally knowing someone with a lanyard who can get you into the media bar: it's not cooler and more happening in there, it's actually quieter.
There's a vennel route across the city. It's an odd experience going through a deserted and mildly unpleasant alley, stepping out into a shuffling horde of tourists, cutting sideways across their paths, and ducking behind some bins into another quiet path. Like walking from the wings of the stage across it.
But yes, ask the locals.
Por que no los dos? The whole cheap/good-choose-one thing is not universal in my experience. I've rarely been steered wrong by trying out the cheap-and-cheerful local option
When I was an expat, there was a subtle kind of experience in settling into buying groceries and getting haircuts from the local providers. Or shopping for furniture for our own apartment, or hiring someone to do remodeling on a house...
But, I'm the type who also finds enjoyment in the same scenic trails and camping areas visited hundreds of times in my life in different seasons, etc. I don't need to try to see everything once in a superficial, whirlwind of a tour...