The only "downside" would be that that the hotel is located a few minutes' walk from the closest spot where a taxi could drop us off (in San Blas plaza), but once we got used to the altitude, the climb was fine!
I was traveling with a group of 6 friends, and La Morada was absolutely perfect for us. The suites are all very nice (we stayed in the 2-bedroom apartment for a few nights and double room suites for the remainder of our time there), breakfast was great, and the staff was incredibly helpful. We stayed three separate times (with Inca Trail and Choquequirao treks in between stays), and they were so helpful in storing our luggage, helping with laundry and taxi service, just an all around great spot to stay in Cusco! The location is also perfect - just a few minutes walk down to the Plaza de Armas area, San Pedro Market, and right in the heart of San Blas.