Nagarkot is the nearest Himalayan panoramic view point to Kathmandu and easily reached in under an hour (traffic allowing of course) from Kathmandu. No doubt about it, clear views in particular are exceptional. From this wonderful vantage point it is sometimes possible to see from Dhaulagiri in the west, as far as Kangchenjunga in the east. That's around 300km of Himalayas!
The very keen eye (and usually with aid of powerful binoculars) just might be able to pick out the summit of Everest, although a pin prick on the distant horizon.
So, no prizes for guessing that the main reason people visit Nagarkot is to view the sunset and sunrise. Nagarkot could be described as a mass of hotels and guest houses clinging to the rim of the Kathmandu Valley, all jockeying for viewing potential positions. Certainly the number of times we've been up to Nagarkot more than half of the time we've also enjoyed the thrill of being above a sea of clouds. That is seriously cool. But, we can't promise that. Wish we could though. By the way, the fresh air up at Nagarkot is just that......fresh!
At around 2000m it's noticably cooler up here (especially at night) than down in the valley below and it can get very windy too.
We'd suggest that one night at Nagarkot is enough if your reason for coming here is for the views.
There are also some very nice ridge line day walks to enjoy, and although Nagarkot itself isn't a traditional place, once you're out of Nagarkot (and it's not a big place) you have rural, hill top Nepal to enjoy, as well as those views to accompany you too.
Our short Kathmandu Valley Skyline Trek is a nice way of incorporating a visit Nagarkot. This short trek affords extensive panoramic views of the Himalayas as you walk along the rim of the Kathmandu Valley, to ultimately descend to medieval Bhaktapur.
You could also consider Nagarkot as an alternative suitable final location for your custom Nepal visit instead of Kathmandu. Time wise to the airport, it's almost the same from Nagarkot as it would be from central Kathmandu and with clean, mountain air and views a nice final memory of Nepal.