A friend of ours had stayed here several weeks beforehand and had recommended Viewpoint as a good budget choice. On arrival we were quoted 1200 baht but after a bit of haggling managed to get them down to 1000 baht a night. The resort is run by a local family so don't anything spectacular service wise, but then again you get what you pay for! Don't expect any comforts either like fresh towels or having your bed made. Ain't gonna happen! It's sandwiched inbetween a couple of expensive resorts which were charging 5700+ baht a night for the same period, so Viewpoint by comparison is quite reasonable. They have a small restaurant near the reception area which does simple breakfasts and dinners. If you have the money and I'd recommend lunch at Serendipity (the resort next door). Their club sandwich is immense! You heard it here first!
Viewpoint is located at the far end of the quieter Sunrise beach, and you can walk there (15mins) or get a longtail boat (50 baht per person), around from Pattaya beach which is where the ferry drops you. The resort is situated on rocky cove and has two small sandy beaches (approx 12m wide each).The bungalows are very basic, typical guesthouse level I'd say. You get a bed, mossie net, wall mounted fan, wetroom style bathroom with a cold shower, and a veranda out front. Our bungalow backed right onto one of the beaches which was picture perfect. There is quite a bit of snorkeling around the rocky areas just outside the resort. When the tide starts to go out there is also loads of coral and good snorkeling in the middle of the beach and out towards the small island (watch out for boats if swimming over there though!)
One of the main annoyances at Viewpoint is the noise from the longtails boats. They have to pass this cove to get around to Pattaya beach, and at certain times of day the endless chug of their motors can drill through your head! There are other beaches to explore though if the noise becomes too much, although there is quite a bit of debris around.
To summarise I think Viewpoint is a good value for the area. Accommodation on Koh Lipe isn't particularly cheap so you could do a lot worse. With the money we saved on accommodation we managed to fit in a scuba dive too so we can't complain!