I've had families living permanently in Granite Falls (obviously, they had a 'home lot', but never lived there). The only real annoyance is that we can't edit the lot once the 'vacation' starts - if you've forgotten something when you were building the lot pre-vacation, you have to send everyone home, edit the lot, and then bring them back. They also fixed the 'bug' that allowed you to buy locked objects in build/buy when editing a GF lot, to my great disappointment. I considered that to be a 'feature'.
It's one of my favourite worlds - I do wish we could use it as a regular world as well as a vacation world.
