We stayed at the Gatehouse recently and loved it. We are just two people so there was plenty of room. I would recommend for a family with two kids rather than two couples. The cottage is well furnished, beautifully decorated and bigger than it looks in the pictures. The kitchen has lots of great appliances and gadgets, wonderful cookware and everything you need to entertain. We cooked for our friends and really enjoyed spending evenings talking and eating. There is a sweet little patio out back that is nice in the afternoon.
Naturally, you are right in the middle of Bayside, it is a short half-block walk down to Ruggles Park. Most evenings we strolled down there to sit in the park and watch the water and the people. Even though it was close to the road and I am a light sleeper, the traffic is minimal and it is part of the "village" atmosphere- it never bothered me.
I would definitely come visit again and stay in this cute cottage. My one caution would be the stairs, they are quite steep so if you are older or have bad knees, think about it. We loved the place and enjoyed working with the owners.