Campo Grande is a fairly new town and an important transportation hub for the region. When Mato Grosso state was split in two in the '70s, Campo Grande became the capital of Mato Grosso do Sul. As with Cuiabá, there's nothing about Campo Grande that merits a visit, and most lodge packages will whisk you out of town right away. The Pantanal in Mato Grosso do Sul is less wild, more given over to cattle ranching, and significantly harder to access than in the north. That said, the avian life is still remarkable, and the lodges are larger, more established, and more luxurious by far.
As in the north, a stay in a Pantanal lodge normally involves a number of activities -- a boat trip to spot birds and caiman, a horseback trip through the fields, bird spotting by foot or in an open vehicle, and often an evening excursion to see nocturnal animals. Some lodges also offer canoe trips, fishing expeditions, or specialized bird-watching outings. If you have a specialized interest, it's a good idea to make contact ahead of time.
The main road from Campo Grande to Corumbá, the BR-262, follows the southern border of the Pantanal, affording small inroads here and there, particularly around Miranda, Aquidauana, and toward Corumbá.