I live near the area, there is plenty of good places to eat - probably better than Bloomsbury. Also, you're in one of the worlds most vibrant and exciting cities for food - if you can't find good food within 15 minutes of your hotel, you are doing something badly wrong.
The area is a good safe and pleasant area, with good access to public transport and wider sites.
It depends on what you want from the trip,but I'd happily recommend that site to friends of mine who were London first timers.