I have been to Kid Space many times, and I am never disappointed. There are cheaper places to take your kids, but for what you get it is very good value. The kids love it, it's not cramped, you can spend time in the play area with your kids without having to fit through tiny spaces and you can kick back and relax at a table and observe them without worry.

Things have obviously gone downhill in the last 6 months. I first went to PlayZone about 5 years ago and it was lightyears ahead of anything else. Unfortunately, regular maintenance hasn't happened and the quality has suffered.
The netting through the main play area has many holes through it. The innovative Time Trial section that was introduced a few years ago should have been left alone with the gate entry, now it is just another part of the play area complete with shortcuts through the netting. Far too much area dedicated to party rooms, would be better to take 2 or 3 out and use that area more productively. And the one thing that I really noticed is that it was FREEZING in there (mid winter) and I don't feel the cold as much as most. As mentioned by others, there is not a lot for parents, the usual Melbourne's Child to read plus a couple of Cleos if you're quick enough.
The toilets were clean, which is a change from some, and the admission was cheap (IIRC it was $9.50 for kids 6 and over, $8.50 for 3-5 and zero for adults), but the pricing in the cafe looked high. Not a bad place for those on a tight budget, but if you can afford a couple of extra $ there are better places.
All in all, it's time for it to be shut for a couple of weeks and some serious work done on bringing it up to scratch.

Approximate cost: $9.50ea