I can't speak for others, but I was basing my assessment on Swanny's situation and criteria.
Portslade may well be perfectly fine for bringing up a family, but if I were a single guy in my 30s, moving from Sweden to the land of the South Saxons for a few months study and planning to entertain...
Undoubtedly cheaper, but you wouldn't have half the experience IMO.
If I were you, I'd stay somewhere close to, or within this area:
Easy bus journey to Portslade (25 mins?), loads of decent local bars and only 10 mins walk into central Brighton.
Pizza from here is EXCELLENT...
Mega-rider Gold sounds far too exciting to be a bus ticket...
You're selling the area covered a little short though - that badboy will get you as far as Salisbury or Newbury!
With regards to the OP, my advice (if it's possible - are you tied to staying with host families?) would be to...