I nearly bought a duplex there when I first moved to HK but realised that I would need a car. Yes, it has a shuttle bus but I am not sure it is that frequent (maybe every 30 mins? I don't see it very often at the station drop off point), and the walk down through Pun Shan Chau area (it's a 10/15 minute walk down to the main road to catch a minibus) is one where you have to avoid stray dogs (or at least owned dogs that are left to wander by themselves all day and get a bit lary when you pass by)
Having said that, it's a lovely location, the whole valley is fairly quiet, and there is a pretty temple nearby called Fung Loi Leung Yuen. It's also very convenient if you like hiking (Wilson Trail nearby plus Tai Po Kau Nature Trails).
If you do have a car its very convenient for the highway which is at the bottom of the valley.