My parents and I stayed for 2 nights, and it was really comfortable and wonderful. The apartment is on a small street facing the water canal. It truly made it seem as if you were a local living in the heart of Venice. We really enjoyed being able to walk to everything we wanted to see, especially the outdoor fresh market (~3 minute walk). For two of our meals, we went to the market, grabbed fresh seafood and vegetables and made our lunch at the flat. The freshest of ingredients and so affordable! Paolo's place had the basics that you would need to cook a simple meal.
There is a great restaurant just next door with outdoor seating, so there would be chatter from the diners until 1am. We didn't have too much issue with the noise, but for light sleepers, I would bring some earplugs.
Overall, I would definitely stay at Paolo's place the next time I travel through Venice!