Just do it. The views are spectacular! The car rotates a full circle, so no matter where you stand, you get all the views from the city to the cliff face.
Now for practical stuff:
Book online. Seriously, the queue we were in was maybe 1/10th the length of the queue for people buying tickets on the day. You then just show the barcodes for your tickets on your phone, which are scanned for your entry.
Then drive up or get a taxi from one of the reputable companies to drop you off - you'll probably want to ring one to be collected as it is a bit of a walk back to the city. If you drive, you can drive right up to the bottom cable car house and drop a friend to take a place in line while they turn at the roundabout and go back down to find a roadside park - if you get to the front, you can sit there letting others pass until the driver comes back.
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