I've been to Huangshan 3 times in the last 3 years, last time in January. IME, Huangshan is often cloaked in clouds, so riding in the cable car is sort of like riding in an elevator -- often, there's not much to see. On the other hand, walking up is exhausting but great fun if you are up for it.

If you have a problem with heights, however, I don't think I would recommend a trip up Huangshan. The top of the cable car is not the top of the mountain, so you still have to climb. Moreover, getting to many of the more beautiful scenic spots requires steep climbs on narrow stairways. All have railings, but many struck me as being more decorative than functional. Also, Huangshan is often crowded (except in winter), so you may have to deal with passing people/getting passed while negotiating those narrow steps.

That being said, Huangshan is stunning, as is the area around around it. I particularly recommend visiting Hongcun and Nanping villages, which are famous for their traditional architecture.