The way I see it, a city this gritty and corrupt could be run one of two ways: Sin City or Ankh-Morpork.
Sin City would be if I wanted to emphasize the utter squalor and destitution of the city, and how the Age of Worms might end up being a good thing, devouring the diseased flesh of the city like maggots on a gangrenous wound.
Ankh-Morpork would be more if I wanted to emphasize the sheer over-the-topness of the city. Reading the description of some areas, like the Whirling Giantess and the old observatory with its rotating cast of mad wizards, I couldn't help but think of Discworld. The lake even reminds me of the Ankh river.
Which do you think is more appropriate to the tone of the series, or do you think it would be somewhere in between?