We had a very nice stay at the Nellie in August. Booked through FHR an entry level room and upgraded to a nice suite. The location is convenient and service great. Not as 'luxury' as others listed (in that it is more of a dame style hotel, and not new) but we were barely at the hotel. The included breakfast was great. We also got a phenomenal rate (I think it came to $320 per night and FHR had a free night on top of that) and a one way transfer from the airport which made it an absolute bargain compared to other hotels. I personally would not want to stay by the V&A waterfront as Mr Floridagal complained it was just a shopping mall but we did enjoy a visit to the food hall for snacks.
I wouldn't mind staying in Camps Bay, it is so nice there, but it depends on your objectives for the trip. It was a quick Uber there for dinner for us. We did have dinner at test kitchen and lunch at Jordan in the wine lands. The real star of the show for us was the Singita lodges. Have fun!