When I lived in London, I rented in Zone 3. I had a former flatmate who moved out and rented a very nice flat in Zone 1 (Bond Street was the nearest tube station). She shared with another girl who was away a lot, so it was like having the whole place to herself, although even then the rent was incredibly steep. She said it was worth it just to be in the centre all the time.
I like walking myself in some of the more residential parts of London (like Knightsbridge, Chelsea, Bloomsbury). But I often wandered what it would be like to live there? So many of the flats seem empty, having been bought for investment purposes by overseas "firms". So you could move in and then not know what you would be getting when your neighbour does put in an appearance (not really something I would like). On the other hand, it might be quiet and the streets always seem clean and well-maintained.
I would love to hear from people who have actually lived, owned or rented in the centre (i.e. Zone 1) of London. Not the more "normal" places like Islington or Chiswick, which could pass for places outside London, but the very expensive parts. Is it worth it overall? Was it better or worse than you expected?