Pros: GREAT location! The walk to Kings Cross is beautiful and there are plenty of lovely restaurants and coffee shops and grocery stores in the area. It is walking distance to so many wonderful spots but feels very secluded and quiet; away from the hustle and bustle but a short train/bus ride/walk to everything you want!
Cons: If you are a light sleeper that doesn't want to wake up early you'll have to choose between sleeping with windows on a small street or windows that back up to a school playground. There were cleanliness issues that have already been discussed and hopefully won't be a problem for any future guests.