This is a lovely place to visit. The beach is protected from swell & being near the ocean entrance to Sydney Harbour the water is usually clear & nice. The beach is safe for swimming. Snorkeling conditions are OK.
Vehicle parking can be impossible during summer month weekends. I recommend to get there early. You can also take the ferry from Circular Quay to Watsons Bay & then walk around to Camp Cove (5-10 minutes). Stop in at Watson Bay Hotel for refreshments on the way past. Walk North along Cliff Street. The beach is busy over summer. Camp Cove Kiosk on the beach sells ice creams & basic food.
The walk from the Eastern end of the beach around South Head is really good. There are historical rock war fortifications, disused canons, Lady Bay (nude) Beach, Lighthouse Keepers Quarters & Hornby Lighthouse. The track is good & there are toilet facilities along the way.
Hornby Lighthouse is unique with vertical red & white stripes. The view into Sydney Harbour, over to North Head & out to the ocean is really good. Bring your camera.
I give Camp Cove four out five for things to do in Sydney.