Under Lambert it was great to be back in the Prem and go to grounds like Old Trafford and the Emirates, Anfield etc. What made it enjoyable too was that we went there and had a go and came away with some good results. Even if we didn't, we didn't make it easy for them eg when we lost 2-0 at Man U, we had the better chances for the first 60 minutes, similarly at Man City when we were 3-0 down there was no damage limitation, we got a goal back and were trying for more, so I didn't mind too much coming away 5-1.
Under Hughton's first season we were at least pretty solid away at the big teams and we got some fantastic home results, but some of the away games were dire, eg the 0-0 draw at Reading was one of the worst games of football I've ever seen.
By last season the novelty of Prem grounds had completely worn off and our poor approach made it a generally depressing season even when we were above the drop zone. No way I'd want to go back to that approach even if it did bring safety.
Looking at the Prem table, at the start of the season there are probably 6 teams with hardly any risk of relegation. Then there are a clutch of teams that are unlikely to be caught up in the relegation scrap (Everton, Newcastle, Spurs) but it only takes one season of mismanagement for them to be right down there. And for everyone else (bar the newly/recently promoted), eg Stoke/West Brom etc, no matter that they've been in the Prem for a few years, they can easily have a bad start to the season and they're right down in the drop zone - Villa the perfect example of an "established" Prem side who have only reached safety very late in the season for at least a couple of years now.
Another disadvantage to the Prem is that a lot of teams go away from home to try to defend a point. Eg Stoke at our place last season were dire, a point was the summit of their ambitions and they were pleased to come away with one.
So for me, I don't mind too much if we're a yo-yo team. I'm conscious the quality of our squad this season comes from parachute payments (and clearing our debt while in the Prem so we're not paying interest). If we go back up, I hope we'll stay longer than last time, but it won't last forever. And I don't mind having some seasons in the Champ TBH - this season has been way better than last season - as long as the gaps when we're out of the Prem aren't too long (like the scum, for example).