The only time I would need to move from there would be, maybe to attend to a meetup, meeting, etc.
The question would be.
How do I move from side to side. Public transportation? Is it safe to walk at night (Past 10/11/12pm).
I take Caltrain ($6 each way) to the city but you can't stay too late. The last train from SF leaves at around midnight. It would suck if you miss it because a taxi would probably cost you $100.
There is an excellent coworking space in Mt View - Hacker Dojo which is $100 a month. I used to live in SF but I prefer being in Mt View since it's cheaper and for me, safer. Also, you don't have to deal with parking.
Not having a car might be a pain though. Get a bike at least.
By the way, hit me up (danny -at- launchset.com). My cofounder and I are in Buenos Aires for the next 3 weeks.
Transit doesn't have to be too bad. There is a train to Palo Alto and San Francisco and decent bus service. You can also rent a car from Enterprise for about $20 a day if you need to go somewhere away from transit.