I stayed in this apartment for 1 week over New Year with 7 of my friends and had a brilliant stay. Despite arriving a little early we were still met promptly and allowed to leave our bags in the room. It is up quite a steep hill about a 15-20 min walk from the centre of cervinia but don't let this put you off, it is very easy to walk down hill into town and there is a regular bus service up hill or a taxi is only around 10€, we came back late at night a few nights and walked up the hill, it wasn't too bad, good exercise!!
Ideal location for skiing, can ski in and out from the apartment and there is adequate ski storage. There is also a small supermarket, restaurants and a bar about 1 min walk down the hill. The apartment itself was good, quite a tight squeeze for 8 especially with 1 bathroom but for the price it was perfect, Bathroom is modern and very clean, Kitchen is small but we still managed to cook for 8 on most nights with ease.
Efficient correspondance with the owner, Brilliant comfortable holiday if you don't mind not being right in the centre of town, I was worried this would be an issue but it wasn't, it was very easy to access town during the day and night. Would recommend.