From our pals over at Sims 3 Nieuws:
The bad: Personally, I think it’s a great miss that you cannot visit your neighbors who live in the same apartment as you. I like it to visit the Sims of who I recently renovated/decorated the house, but that’s not possible if they live in an apartment. Also I think it’s a pity that you cannot make your apartment larger when you live at the top floor of a sky crabber.
The good: It’s a total new experience yet again. There are a lot of new items, interactions, possibilities added to the Sims 3 Late Night. And there are lots of things to discover and to experience, you won’t be able to do that in only one night.