That view is incredible! I would second considering a location closer to the Colosseum - we stayed at the Inn at the Roman Forum which had a great location and means you are only minutes from the Colosseum, Roman Forum, Palatine etc which to me are the bits that make Rome so unique. If you only have a day, those are the bits I would want to explore and it would be a quick cab (or not too bad a walk) to Trastevere for dinner.