Good place if you have young kids, excellent security, the scale allows buses to/from school, school functions, etc to start/terminate there, easy for sleepovers and friendships in neighbourhood etc etc
(if you don't have kids, PV has less allure)
wider range of neighbourhood friends to choose from - close to a thousand apts spread among the towers
lacks public transport to the doorstep (the steep climb up being the obstacle)
better access to the city (fewer traffic obstacles) than Repulse Bay and beyond; good access to central, cwb, peak, and all of the south side.
frequent shuttle buses (10 -15 min at rush hour) suit many, may not suit others (depends on your workplace)
clean air well above the hazy brown you can see in central and wanchai below
higher humidity than in places lower down - need to be well equipped with dehumidifiers
awesome country park with various trails right at the doorstep
high population density but design is good so you don't feel it
excellent maintenance of exteriors and public areas
great sports and fitness facilities in clubhouse; but a bit cold and nouveau riche in style and not much of a clubby atmosphere socially though (that's why we joined HK Cricket Club below despite PV club)
limited free parking period for visitors
over-landscaped gardens instead of allowing more free-range running areas for kids (opinion differs; most Chinese seem to love the landscaping)
It's not everyone's cup of tea (it is ours though, on balance) and I thought over the years it stopped commanding extra $$ compared to other places popular with expats.
Doesn't answer all your questions but hope it helps.