My wife and I stayed at the TNI in 2010. We chose it for what it is not - a tourist trap. We loved being able to explore anywhere on the island we wanted, when we wanted, then return to the quiet of TNI.
Snorkeling in front of TNI (and the public park nearby) is well above average. I considered it better than cemetary beach that many here like.
As others have stated, Bodden Town does not have too much to offer as far as tourist conveniences. It is mainly a residential area, with a few stores. As long as you are aware that you will need to drive to restaurants and stores, there is no problem. The location is very convenient for driving to anywhere on the island.
If you are looking for peace and quite, this area should fit your desires. There were never more than a handful of people in view along the beach up and down from the TNI (including the public park). The beach on this part of the island is not the nice, powder sand that you find at SMB, Rum Point, or Barkers. It is more broken coral. I advise water shoes.