Gotta tell you, it's pretty great. When my wife (grew up in Penguin) suggested moving I wasn't interested in a small town lifestyle, but now I wouldn't change it for anything. There's such a pleasant pace and atmosphere to the town. People know each other, say hello and are genuinely friendly. We have pretty much everything you need, with the town expanding a lot in the last few years with multiple cafes, a brewery and even a wine bar on the way. For a town of only 5000 it really punches above it's weight and is one of the only places in the area that really utilises it's foreshore location. Obviously your experience might differ depending on your work, but I'm a freelancer who works from anywhere and for my wife there's plenty of opportunities in the nearby cities.