I used to live there for a while and have relations living there so know it very well.
The flats, like other council properties, are spacious and some have nice views of St. Paul's. I really like the location (especially if you work in the city) and proximity to the Arts Centre. St. Giles is a lovely church, if you are that way inclined (DD was Christened there). Apart from that, I don't get the impression that there is much of a community, as many people work long hours and leave at weekends.
It can be very bleak and depressing, especially in the winter, and the wind really whips up on the high walk and can be quite bitter. The high rise blocks remind me of a place we visited in Kiev, and not in a good way.
The Council can be slow to deal with problems. I would also be worried about getting out if there were a fire, as the precautions and exit strategies don't seem to be very well thought out. One of my relations was worried that she couldn't break the safety glass for the fire alarm and had to keep badgering the Council to sort it out, but they didn't seem very interested and made her feel like a nuisance.
I have heard much talk of the waste disposal, which is apparently a nightmare to clean.
Having said that, my relations really like living there and have no plans to move.
However, I have just bought a flat in an Art Deco block round the corner to the Brunswick Centre, which is much more my thing.