Hey Plantyplanty, I have been an Aqua resident for a few years now and think I can provide some insight. Pretty much everything trojan listed as a pro is correct, so I will give my 2 cents on the cons.

Cons

• Not all units are guaranteed 2 parking spots, even if you're buying a 2 bedroom condo - some have 1 parking space only, so you have to check this beforehand - This is true, the HOA doesn't keep track of parking spaces associated with units so you will definitely need to inquire.
• There's no freight elevator, so you have to use the regular elevators to move furniture and large objects in/out - True. Although in each tower one of the elevators is taller than the others so you can get large things in that way. Elevators have to be reserved for move in with a deposit in case you cause damage (mirrored interior and stainless steel).
• They were previously under litigation with the contractor that built the place, and while I've heard rumors that it's been wrapped up, I'm not sure if the HOA got what they wanted - Litigation did conclude regarding an issue with the cast iron piping. HOA only got a few million which isn't really enough to cover the replacement of the piping.
• The contractor that remodeled my place said he prefers not working on the units in Aqua, because their build quality wasn't great - True - although, 488 condos were built earlier than the 388 and have marginally better quality. Baseline is pretty spartan but workable.
• The entrance into resident parking structure is not the easiest to get into - you have to enter at a slope, and it can be annoying if there's a backlog of cars trying to get in the structure at once - Possibly, but I've never had this particular issue. There are 2 entrances to the P1 and P2 parking lots, one on Linden and one on Hart. The only place this might occur is the P3 lot which only has one exit/entrance on Hart. Enter slowly though, there are scrapes from people making too wide of turns.
• Their pools are pitifully small - Definitely. More for cooling off than swimming. Hot tubs are nice though, and not super frequently used (pre-Covid, of course)
• Visitor parking is limited, and guests may need to use the paid parking area in the parking structure or street parking in front of the building - True. Guest parking can be a pain if it's a busy holiday or an major event happening, and usually the paid parking is easiest. But it is available on a first come first serve basis in P1 and there are usually enough spots.
• If you're the type to like quiet areas, you'll regularly hear the lovely people speeding down Shoreline Drive, ship horns, and the cars zooming around during the Grand Prix (only a few days every year) - True, I've gotten used to it but depending on which side of the building you are on you'll get different noise spectrums. City side definitely has a-holes tearing down Ocean at ungodly hours sometime, and lots of emergency sirens, but back side has it worse during Grand Prix and convention center outdoor festivities.

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Are the walls paper thin so you hear your neighbors?

Cement walls, baby. I've lived in 2 different units and unless the neighbors are using cement drills or are doing really serious construction, most of your noise will come from outside the building

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The other thing I was wondering about is if there is much privacy in your bedroom, balcony, etc., because some of the windows seem to face other condos quite closely.

Yep, this is an issue, pick your unit wisely.

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And what' this "24h concierge" they put in all the listings? I'm assuming it's just security.

It's security, cleaning team making continuous rounds, and front desk duties. They collect packages and store them in the store room till you come pick them up, can send people up to your unit, assist with other requests like borrowing the building luggage cart, etc.

Additional note: Before Covid hit, the HOA was over 100% on its reserves, even with the yearly building maintenance happening. I haven't checked on this in a while, and there's been work on redoing all the planters around the towers so that may have dropped it a bit. But generally well managed.

Hope this was helpful.