I've cruised before - and I say if you have the money to get a balcony, it might be worth it, but they are rather pricy.
Last time I cruised, I paid extra to get a room on a higher deck and with a window - I don't think they're worth it b/c they're similar to airplane windows, and your view is distorted (not worth it.) Even the bottom rate rooms are above sea level. I'm cruising soon and I'm getting the cheapest available w/ out it being bunkbeds (4A)
Those are my thoughts. Good luck!!