1. Located in a scenic or interesting area (3)
2. Has unique or creative camo or container (3)
3. Hidden in a clever way (1)
4. Contains good swag (1)
5. Has accurate coordinates (1)
I agree with all of the above with the possible exception of #4. Without constant maintenance, it is nearly impossible for the cache owner to control the contents of the cache. We've just about given up on trading swag unless it's a new cache.
Another one I think is important is a place to park. Please don't make me park with two wheels on the road to grab a cache at a busy intersection.
"Honey, we're not normal people. We're the Griswolds. "