Ive been climbing on the central coast for almost 10 years and have only recently been to monkey face as everyone poo poos it so much.
I actually think the climbing is good around the main gulley (the only place I have been) provided you are happy with trad stuff - Tims new anchors on some of the routes definitely make it more appealling - I wouldnt be so happy on those old manky carrots or having to dick around bringing up a second etc. It can be a bit sandy/dirty etc but most places on the coast are like that due to really low traffic.
Everything is a bit of a sandbag but thats half the fun.
If you are staying in Newcastle, then I agree that going north has better options, and there is heaps of good stuff on further south if you are on the central coast (depending what you are after).