I consider myself a relatively impartial judge of this, given that I've lived in Dport for two years but don't really have much college spirit, so that doesn't obscure my judgment...
Keep in mind that the entire population of Davenport turns over every four years. That means that the social scene changes a lot depending on the dynamics of your particular class. Which means you should be active in trying to shape the kind of Davenport you want to see! (Unless you don't really care. Like me!)
As for the facilities! I think they are some of the best at Yale. The gym (shared with Pierson) is definitely the nicest college gym, which is nice because going to Payne Whitney can be a pain. The library, of course, is open 24/7 and can get pretty crowded at peak studying times (you will learn quickly when those are), but is totally gorgeous and super convenient for late-night studying (all non-residential college libraries close sometime before 2AM). There's also other stuff that I never use that you can read about on the website, which I guess is kind of cool to have but doesn't really affect my life. (Except sometimes I want to print stuff on the DMAC computer, that's useful.)
The dining hall is great. I think it's the most underrated dining hall at Yale--the food is definitely better than average a lot of the time, and the staff are some of my favorite people--I'm moving off campus this year but I'm actually really going to miss them. (Some people will claim all the dining halls are the same. THIS IS NOT TRUE. Saybrook sucks, Silliman is awesome, and the kosher kitchen at Slifka is, of course, the best regardless of whether or not you keep kosher.)
As for location: Okay, so none of the colleges are REALLY all that far away from each other. It's probably a five-to-seven minute walk to Old Campus or Cross Campus. The really annoying thing is if you have a class on Science Hill early in the morning--but if that's the case, there's a shuttle stop right across the street from Dport that should get you where you need to go in a timely matter as long as you plan ahead.
Feel free to PM me if you have any more specific questions...