My boyfriend and I stayed in Villa Busovina for 4 nights in August and we really enjoyed the stay.
We had the top floor room which was very spacious and nice with a great view down to the Old Town and the sea (through quite small windows as they had not been allowed to build a balcony since it is in a protected area). A little disadvantage though was the shower which is not very convenient if your taller than 160 cm.
The hosts are very friendly and helpful and we felt very welcome.
The breakfast is basic with cheese, ham, toast, juices and cereals - but tasty. It would have been nice with some tomatoes or cucumber and more fruit though.
About the stairs, we counted them :) There are about 205 from the old town up to the Villa so it is a perfect way to burn off the calories from eating several pizzas at the best restaurant in Dubrovnik - Oliva.
All in all we had a great stay and Dubrovnik is really lovely (but touristy).
On our last day in Croatia when we came back from Hvar we stayed in one of the luxury hotels in Dubrovnik (since villa Busovina was fully booked), and I would much rather have stayed in Villa Busovina. Both because of the service, price, location and the quiteness. The hotels in Dubrovnik are highly over priced and the people staying there are very touristy and its to much blig bling and show off for my liking.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC