Location is really good if you want stunning view from the kitchen, quiet area, and very old location. It is really worth the money.
BUT, keep in mind a few things.
There are a bus station nearby, but buses are leaving 2 times per hour (and sometimes are not arriving at all), and the main route is to Valetta. There is a ferry port nearby (10min walk on a superb heat).
Breakfast is poor, crackers, cereals (no millk provided), coffee, tea. But you will have your own fridge (empty by the way).
All in all, we are happy with our stay