My fiance and I had a great time here. We stayed three nights and were very pleased with the accommodations. Communication with Vasiliki was very easy and when we met her upon arrival, she provided recommendations for several restaurants and activities -- with a long family history on the island, her recommendations were excellent. We found the studio itself to be exactly what we were looking for -- clean, bright, and close to to the beach (3 min walk) and the bus to Fira (2 min walk). The studio was simple, but had everything we needed, including a kitchenette and a balcony with views of the sea. The studio is also a one minute walk to a market.
On a general note, it takes approximately 20 minutes to get to Fira (€1,60) and from Fira takes approximately 30 minutes each to get to Oia (€1,60) and Akrotiri (€1,80) by public bus.
If you aren't looking to spend a lot of money (or battling crowds) staying in Oia or Fira and are looking for a nice area with great beaches, this is a great alternative.