The most convenient way to get around is to have your hotel or lodge arrange transfers, or book a hotel within walking distance of the falls (there are a number of options in Vic Falls Village on the Zimbabwean side, and the Royal Livingstone and Zambian Sun are within ambling on the Zambian side). Safari Par Excellence offers prearranged transfers anywhere, as well as a shuttle service from both airports and Victoria Falls Village to its Waterfront Lodge (on the Zambian side), where many of the adventure activities take place.
Victoria Falls Village is a very small town, with most attractions (including the falls) within walking distance or, at worst, a short taxi ride away. Taxis are relatively cheap (make sure you negotiate the price upfront), but almost all of the hotels and lodges offer a shuttle service to the falls and around town. Biking is a great way to get around; some of the hotels have bicycles for loan or should at least be able to point you in the direction of a decent rental agency (there are a number of options on Park Way Dr. in Vic Falls Village).
By Boat -- Breakfast, lunch, bird-watching, and sunset river cruises are operated by a number of companies. All cruises take place on the calmer, game-rich waters above the falls and are usually in large, twin-deck boats -- a wonderful way to enjoy wildlife such as hippos, elephants, and aquatic birds, though you'll probably also see plenty of other tourists. One of the oldest operators is Dabula, represented by the South African-based African Adrenalin safari company (tel. 27/11/888-4037; www.africanadrenalin.com). Sunset cruises cost, on average, US$25 to US$35 (£13-£18); shop around for the best prices. If you're averse to crowds, it's worth inquiring about the cruises offered on smaller (maximum eight people), shallower, propeller-free "jet boats"; they're a bit more expensive but quieter, and can explore places larger boats can't get to.
By Train -- A 1922 Class Ten steam locomotive operated by Victoria Falls Steam Train Company (tel. 263/11-203-978 or 27/82-294 4684; www.steamtraincompany.com) crosses the mighty Zambezi via the Victoria Falls Bridge -- do the bridge run for US$65 (£34), or travel between Victoria Falls and Livingstone with the "royal tea" or "Livingston lunch" run for US$100 (£51), including meals -- the "Moonlight Dinner Run" is worth every cent. Reservations are essential.