Location is perfect if you want to see the Birgu or cospicua. However, if you base your trip at Valletta, you need to aware of the buses schedule and ferry schedule, they become a bit infrequent later at night. Also, one of the main bus stops is the bottom of the hill side, you need to walk quite a few steps to reach it. The steps are not steep but running up and down may not easy if u want to chase a bus or catch the last ferry to Valletta. Buses ride to Valletta is any between 15min to almost an hr depending the traffic