On the side of the advantages we have the fact that they are well placed. You have all kinds of services at hand: travel agencies, internet, city buses, currency exchange offices, restaurants, street food stalls and the occasional pub.
However, it is one of the noisiest areas in terms of traffic and is a true backpackers' pack, with a mess at night, a rock reaching the rooms and absolutely western weather. Although if you want to meet other travelers I can't think of a better place to stay.
The prices in the area they ranged from RM 13 or 15 in the most basic hostels to RM 28 for a bed that I was asked for in one of those on Love Lane. They offered breakfast and wi-fi but the price was excessive.
We tried our luck in a couple but they were full so we decided to get off the busiest streets and combed the perpendicular to Love Lane until we found a kind of hotel with small rooms and no window but clean and with fan. It cost us 40 RM -with bargain included- per night (20 per person) and you have free wi-fi 24 hours. Although I don't remember the name of the place - I should take notes more often - it is located right on the opposite corner of the famous Kapitan restaurant.
The city is renowned in Malaysia for its kitchen.
Georgetown offers almost every type of cuisine but Chinese and Indian food lovers will feel especially lucky.
There are two restaurants Indians that rival the 24 hours of the day they remain open, facing each other as if they were coming out of a duel between Clinet Eastwood and the bad guy. The Kapitan takes the palm and offers some naan with Tandoori chicken and varied sauces - for only 7 or 8 RM - that are to suck your fingers. They have a varied menu with Biryanis and others that will delight those who like this type of cuisine.
There are some wood-fired pizzerias in Chulia but we didn't try any.
Where we did eat - and we recommend the forofos of Chinese cuisine - it is in the street stalls of Chulia. In one of the perpendicular streets you can eat soups of noodles, duck, pork and much more for about 10 RM.
In general, the accommodation did seem a bit more expensive than in Thailand comparing quality and price but the food more or less at the same level.