Location, location, location. I don't think we could have found a better location.
The place is as described.
The street below has lots of action in the evening - great energy. Simply shut the doors and because the bedroom is in the back - it's very quiet.
The biggest downside would be the shower (it is small - so just don't plan to bend over too many times : ) - but that can be typical for European size bathrooms.
As others have noted, there is no elevator and we found our first trip up the stairs a bit of work but after that it was not a problem - after you get used to all the walking up & down the hills in Lisbon - it'll seem like a cake walk and you won't notice.
Maria's constant communication and checking in with us was outstanding. She had great tips and her 'black book' had some great advice including restaurant suggestions that we took her up on.