Kuala Lipis is on the Jungle Railway between Tumpat and Gemas. It is in particular the first and the end station of several trains running from Singapore (Southern part of the jungle line) or from Tumpat (Northern part).
From Kuala Lipis you can go to Kenong Rimba Park, which is about 10km away. It is a forest reserve, accessible by train or boat. It is a good place for trekking and caving. Most guesthouses of the city will organize tours there.
The main street Jalan Besar, with many old Chinese houses.
The wooden mosque Masjid Jln Masjid Lama, 100m from the train station.
Nothing special to buy here; however you can buy some local fruits, like durian, rambutans, mangis, mango etc.
Many Chinese and Malay small restaurants and food courts. Cheap. No Western branches.
There are several small hostels in the main street Jalan Besar.