Punting tip - use the punt pole as a rudder. Push off once, hard, and then trail the pole in the water behind you, straight behind or in the direction you want to go, and just coast for a while like that, rather than constantly pushing off and trying to almost paddle/steer by pushing in different directions. Watch the professional punters for a little while before you have a go - they expend a lot less effort than everyone else, partly because they're fit, obviously, but also because it doesn't need as much effort as you think! I never got to the point where I didn't get my arm soaking wet, though.
Punting all the way to Granchester is a real slog though, much better to walk or cycle I think! And punt through the city to see all the colleges from the river.
I"m not a hipster but i still like Hot Numbers, especially the one that you cycle to and sit in the big garden. Excellent bacon sandwiches.
Nice walk/cycle along the river, and you can go all the way to Anglesey Abbey if you want by bike too. You can see the new bike bridge built over the river just past the railway bridge. (Not open to cycle over yet, but you can cycle under).
There is a more budget hotel near the station (Ibis), or if you want travelodge/holiday inn/premier inn or whatever, there is one at the leisure park site or the town end of Newmarket road, and those would both be better locations than Cambridge north - not that near the centre of town, but with more amenities around them. There are nicer hotels in town as well as smaller B&B or small hotels. The problem with Cambridge north is both the area not being very interesting/few facilities, but also cycling into town leaves a problem of what to do with bikes.
Though Cambridge north is where the cycle path out to St ives starts, which is a nice way to spend a morning/afternoon.
Lots of shops closed in town centre and grafton centre now, really quiet looking when I've been in lately.
Are you going in summer? Otherwise evensong could be interesting, as I think they are just starting to open it up to non-college visitors in some chapels, but not likely anything much til October.
15 minute train ride away also brings you to amazing Ely cathedral with the gorgeous Octagon tower. And several more tea and cake shops.