I ran the marathon in this event.
Let's start with the positives:.
Low cost
Local event feel (if you like that kind of event)
No need to worry about buses to the start line, crowds etc
Relatively flat, so if you don't need to crowd to pull you through, prospects for a good time, especially as you won't have to weave in and out of people
On the seafront which is beautiful
The cons:
The course is two laps, back and forth along the seafront
The event had very little local support or interest
Mentally tough in that you have to go passed the finish line 3 times
If the weather is bad it's pretty exposed