There are other advantages/disadvantages.
Advantages of Gold Coast/Sham Tseng type of area:
* convenient for shenzhen
* convenient for airport
* much closer to "nature" - hiking and beaches
* good 'local' shopping and restaurants, many with outdoor seating
* good facilities in the developments - tennis/squash/football field/indoor and outdoor pool/gym/parking etc etc
Advantages of Olympic/Kowloon:
* also convenient for airport
* excellent for all kinds of shopping - close to TST and mongkok - wider range and number of supermarkets etc
* many more restaurants in total and wider range (but many in shopping malls or local places - so depends what kind of thing you like)
If you like a smaller number of nice things, outdoor spaces and the feel of "more space" then further away works. If you are well organised and capable of meeting a schedule, then the journey is not a problem. If you can do other things on the bus (read, surf, study, work) then the journey is not a problem. For example, I can do NOTHING on an MTR commute whereas I can pretty much make use of my time for the entire bus commute because 1) I have a seat 2) I usually have an empty seat next to me 3) no changes and a decent length of time to focus.
Only YOU can tell if that works for you. It works for me. TheBrit hated it. Different strokes for different folks!