The not needing to sleep would be ok if you could still nap if you wanted to. Napping is so decadent. It would be nice to be still able to indulge from time to time.
I think though I would go with teleportation. For a few reasons.
1. I love to travel but rarely have the funds or the time. Have a weekend? could pop over to visit a friend in France, or go swimming someplace warm in the middle of january..
2. Never be late to things. Ever.
3. Could make money, lots of it, if you could take small items with you. Even more if you could take larger items or people.
4. Spend more time with people you care about. Having a hard time figuring out when you can get time together? Much easier when getting there and back is instant.
5. No, or little fear of others or disasters. Earthquake, tornado, impending apocalypse? As long as its not planet wide you can be elsewhere. Someone trying to attack you? Leave, or grab them and materialize in a police station..
just so many reason as to why teleporation would rock.