I used to think it was a great idea. I tried it once, when we moved to our new house. I didn't give out the address until people RSVPed. But then some guests were in touch with others and didn't RSVP, but got our address anyway and showed up. That ended up doubling the number of guests at the party and I had to scramble at the last minute to make sure there was enough food. I haven't tried that tactic since.
My preschooler got an invitation to a party the other day where the location was a street address. I wrongly assumed that it was the parents' home address and RSVPed yes. In my email RSVP, I asked if parents were expected to stay for the duration of the party and the hostess said no.
Later, I looked it up on Google Maps and saw that it was a building in a commercial district that used to be owned by a now out-of-business business. So I am not sure what the kids will be doing. I'll plan to bring a book and sit in the car parked out front if that works out. I hope it's not a build-a-bear kind of thing like the other thread here. I'm not in the habit of giving my 5-year-old extra cash in case she wants to buy any "upgrades" during a party.