The view is just amazing-- and a major factor in why this place gets 4 stars. The studio is a quaint and authentic home-- it is NOT a hotel-- which I like very much because it gives me freedom to prepare my own meals, relax in the front yard, and clean up as if it is my own home. There are three studios in total, plus the owner's home one floor up-- so the front yard is a communal yard facing the caldera. I traveled with a friend and stayed only for three days and I showed pictures of the studio and the island to my husband and it is a definite that we will visit and stay for at least a week!
(Be forewarned-- there are stairs *everywhere* on the island of Santorini... if you want a caldera view, you will have to warm up on a Stairmaster prior to your Santorini visit.)