Interesting - it took me a while to work out where the area the photo covered was, even though my secondary school was in the picture (or at least the school annexe when I attended it) and also the extension to the Royal British Legion that my dad, who was an architect, designed. I think it has recently been demolished.
I grew up next to Craigentinny depot and often thought how great it would be if there was a station in the area, but realistically, very few people from the main bit of Portobello would switch away from the very regular 26 bus if going into the City centre.
That's not just because of the location of the proposed (and previous) station, but because of the trek out of Waverley station. Direct trains to South Gyle or Edinburgh Park might make it attractive to people working there.
People living directly to the south of the proposed station might use it, but if you go too far south the 44 bus would be the main choice to travel to the City centre.
Just looked on google maps, heading east to see where the Borders railway leaves the ECML. On some of the satellite views, there's what I think is a steam train and single carriage, and also a very truncated East Coast train.