The pros: the location is an easy walk to Harvard Square and everything it has to offer. The flat was also very clean and the host responsive. The king-sized bed was also a plus.
The cons: we felt that it was a pretty bare-bones experience, from the bent blinds and torn shower curtain covering the bathroom window to the "sofa bed" that's not actually a sofa bed (the host supplied an air mattress when we raised this, which we very much appreciated). The bed pillows and bedding weren't great (but clean) and the kitchenware kind of a jumble sale. Just in general, it felt like much expense had been spared (esp for the nightly rate). Sadly, we didn't look forward to coming back at the end of the day.
But it is close to the square and that's not nothing in Cambridge. And if you're just crashing for a night or two, I guess, OK.