Here's the circumstance in which I see it being used. You're running a game and your players are out in the hinterlands somewhere, and at some point they say, "Okay, let's find a town around here and sell this shit/get this repaired/get hammered/etc." So the things I think the players would probably want to know, and the things the GM would need to quickly get a feel for the place, would be:
- How big is it? Little hamlet, or big city?
- What's this city all about? Is it a bunch of farmers, or a hub of trade, or the proverbial city of thieves, or what?
- Is it a decent place, or is everyone covered in shit?
- Is there anything special here, like a military academy or a mages' college?
- Are there any important people here? ("Important" here mostly meaning "important to the immediate affairs of the players.")
- Can I get a good price on this thing I want to sell? Do they have that thing I want to buy?
- Who lives here? Is it a human town, an elven village, or what?
- And are they cool, or assholes?