Geoff it is very close to my place, and I have been by there many times on 4wd trips in the Watagans. While the whole area is heavily forested the Basin is
partially open. I have not stayed at the Basin, only drove by, but i know you cannot drive in and vehicle camp, it is protected by bollards/fencing and you have to walk in and pitch a tent but can park a vehicle nearby. As it sits on top the Watagans it will be subject to the coastal cloud that builds up against them. On the right night, it could be a good temporary spot like the Pony Club if you don't mind leaving your vehicle at the fence, but dodging the trees surrounding the area, the scope useful horizon would be fairly high due to the trees as you can see by the attached photos I grabbed from the Net.
http://images.everytrail.com/pics/fu...n_campsite.JPG
https://lh5.googleusercontent.com/-R...123_071506.JPG