My wife and I stayed here one night during a weeklong vacation in Nova Scotia. As other reviewers have stated, the view of the harbor is very pretty. But not much happens there. The Bluenose II goes out once each day briefly to take tourists for a ride, but there are only three working fishing boats in Lunenburg. So if you're expecting to find a busy fishing port, this isn't the place.
A few disappointments. Although we booked a room with a 'private veranda', it is only partially blocked so that you clearly hear conversations and whatever from the other rooms on your level. There is no on-site parking, only paid parking or meters, unless you want to hunt for something farther on a sidestreet. The front desk closes earlier, I believe at 8. So good luck if you're a late arrival. The lady there was VERY helpful as to what to see and do, but she also clerks the public gift shop so she's very busy as well.
There doesn't appear to be a whole lot to see and do in Lunenburg either, at least on a weeknight in September. Shops close early and the town goes to bed. If there's any nightlife, I imagine it would be a drive to find it. The museum across the street is outstanding if you want to learn about the fish and fishing. I recommend it highly.
I should add that the room itself is very clean, roomy and well decorated. But you're really paying for the view.