The planned new road will take the traffic off the current ringaskiddy road, taking it down through the fernhill golf course, with interchanges for novartis / centocor etc. It will bypass the village with ferry traffic coming down somwhere between the current ferry entrance and the marine college entrance. So most of the current traffic will be diverted from the village.
I've also seen a council announcement in the local paper to address kerbing, planting etc to freshen up the village. The street has been resurfaced in the last few months and is looking good, and the pub which was closed has reopened.
You have nice views of Monkstown from some higher up parts, there are some nice beaches down there, and you are near the woods at Currabinny. Short drive to Carrigaline, Douglas, and several options for routes to get there.
IMO the plants aren't as dangerous as people would have you believe - Pfizer are also in Little Island and several plants in Carrigtwohill with more to come; you dont hear the same things being said about these towns.
All in all, I'd say give it a couple of years and it will be a pleasant enough place to live. From word of mouth, i've been told that anywhere down in the village or near the community centre is very good - towards back of village not so good. Also a lot of rented out accommodation there at the moment.
edited to add: if you look at the
www.corkcoco.ie website, and the search planning database link, select the advanced version and you can find the area by arial photo and see the zoned areas, location of current planning applications, planned road route etc.