Upsides- Light and airy, great use of textures, great bath for a good soak of those weary feet; plenty of space for a couple or small family. The view is gorgeous and we loved the accessibility to the city by ferry instead of spending more time driving, especially with the traffic and after a long drive getting there. Parking proved challenging at first but after a good walk around soon found some all day parking. Great cafes in short walking distance albeit mostly uphill with good coffee (for NSW anyway!). Car was useful to go to the Supermarket but you could still walk there. Good eateries in main strip. Fireworks visible along the waterfront towards Darling Harbour around 8:30pm.
Downsides- the ferry terminal is busy and the buses noisy especially at night. It was very warm at night with heat coming from somewhere underneath which made sleeping Uncomfortable.