I have a PMQ in Esquimalt, a two bedroom single with a basement, and I can't complain about what I've got. The place is small, with only 800sq feet upstairs, and another 800sq feet downstairs, but it suits my needs (and was fine when I was living with my girlfriend). The insulation isn't that great, for sure, and when it's very windy out I can feel a draft coming from the big window in the living room. My solution has been to cover the big window and a couple of the other windows in the house I don't think I'll need to open during the winter with shrinkwrap plastic (you can pick it up at Rona or Home Depot). But as Airmich said, it isn't really that cold, I do it more because I'd rather be efficient and save some money on my natural gas bill.
I'll describe my place, but I haven't been in many other PMQs out here so this is just one example of what you can get. I have hardwood floor in the living room, but the kitchen and bathroom is linoleum, and the bedrooms are older carpet. As typical with older houses the walls are covered in about 10 layers of paint. The exterior is vinyl siding. My basement is unfinished, I use it for a workshop and as storage, although there are basements that have been finished, and there are places without basements.
The Colwood area is nice, it's off the main road so you don't get crazy traffic through the houses, and for the most part only people who should be here are here. It's very close to the Royal Roads grounds for nice walks, it's right on the Galloping Goose Trail (a regional trail that snakes all over Victoria and it's environs), and about a 15min (plus or minus 5 min depending on where in the Colwood PMQs you live) walk from the Esquimalt Lagoon beach. There is a grocery store, library, rec center and several restaurants just down the road from the entrance, along with gas stations and some coffee shops (including two Timmy's).
The biggest problem I see with the PMQs is that some people treat them as rental housing. There are many who don't bother taking care of the exterior of their places at all, but on the other hand there are some that take great pride in their houses and put in a lot of work to make them habitable. My neighbours are quiet and friendly enough, but I think I don't fit in too well as a single person compared to someone with kids and a family. Understandable since this is a family area.
If you have any other questions about the Qs in Esquimalt feel free to ask.