My toddler was in love with the view, he spent at least 30 mins every morning commentating on the coming and going of trains, trams and boats while we get ready :D
Area was also ideal for our family, lots of great restaurants within walking distance or just a quick tram ride all within the free tram zone, also all the trams we need were the stations were just steps away we didn't even need to make transfers. It's about a 5 min walk to the tram and 10 min ride to Melbourne Zoo, we were there for two afternoons it was so easy.