Just a few, unrelated-to-anything observations as an outsider that has only spent 5 days in St. John's in 30 years:
We liked the downtown quite a bit. The obvious comparisons that spring to mind is Halifax... similar architecture (other than your cuter houses), hilly as heck, but not quite as "deep"... once you get off Duckworth/Water, you're into the houses. That's not a bad thing, the downtown is nice and dense; you can walk the whole thing rather easily. There are TONS of opportunities for more businesses and shops... I have no idea if that's because stuff has left to the burbs/edges (probably?) or some other reason. Lots of potential.
I can't comment on whether or not it's busier/less-busy than it used to be, and we never stayed out later than 8pm (so only saw George St. before it "got going") but Duckworth/Water seemed pretty "sleepy". About on par with Moncton (which is pretty sleepy). Some nice shops and lots of good restaurants and pubs, interspersed with some rather dodgy looking ones; but you get that everywhere.
St. John's was MUCH more sprawly, overall than I expected. For some reason I was expecting the core to be a bit larger. When we took a few taxis across town (had to run to the mall, airport, etc) and some day-tours (Cape Spear, Petty Harbour, Flat Rock, etc) I was surprised at how nigh-impossible it was to tell where the city "stopped". Looking at the map, I can see why. Moncton definitely has sprawl issues, but I think St. John's might be a bunch worse... it's like a giant crescent. I know this kind of thing just happens, but it was really weird driving around in it.
The scenery was great, but by far the best part was the people.
So friendly and down to earth. The fashion was... interesting. Let's just say you've got a lot of very self-confident ladies, and that's a good thing, I think.
Lots of dresses being worn at the mall, that kind of thing. Had great conversations with the restaurant wait-staff, tour-bus driver and Metro Link driver, who chatted us up whenever we were waiting for hop-ons at the regular stops throughout town.
It drove my wife (S. Ont born) absolutely bonkers that though I've been to NL only half a dozen times in my life (and the last time to St. John's was 30 years ago) that I'm considered a Newfoundlander by the locals because I was born at the Grace back in '72. Bus driver asked if she'd been "screeched in" and she said she would if I would, and the driver said "he don't have to." LOL.
Love those folks!