The location is perfect for walking to major sites, and other than the train into town and the train out of town, we did not use public transportation (even walked to and from the train station with ease).
As mentioned in other reviews, it can be loud at night due to the street activity (we were there on a weekend during the calcio fiorentino matches in June, so one night there was a huge street party until probably 4 AM). I suspect for some the noise is fine and for others not so much.