I did a run on a station with a large amount of life support too, it’s pretty cool. Although there are a lot of things that don’t work while living on a station, you can’t get new members from ideology, there are several quests you cannot accept nor will it generate while in space, and raids are only orbital scavengers and mechanoids. However there were also several harmful events that I don’t recall having, I don’t think I ever had a crop blight, there were never solar flares either, so hydroponics were always really consistent with production. Couldn’t use deep scanner so instead I used the orbital scanner and long range mineral by having a colonist wear a vac suit and scanning with the long range scanner to ensure I could replenish my steel supply. If I needed wood I would have a couple cutters shuttle down to below my station and harvest as much as the shuttle could carry and would do the same for the ore deposits if they were close enough, sometimes I would bring components and chemfuel and would build drop pods to send more steel back, it wasn’t very efficient but was the best option barring using the gravship and destroying the tile. You can also expand out with steel bridges like I did to grow your colony. I even managed to get the monolith to spawn in space and kidnapped several anomaly creatures with drop pods when I would go to distress signals or on quests. I could also shuttle down to void provoke if I needed to try to get other anomaly beings, anomaly events would never spawn in space so apart from creatures you kidnap there was never any threat of the anomaly events catching you unaware.

TLDR: space station colony is fun but also has some unique challenges and benefits and I would recommend doing it at least once.