At the tram terminus in Central, while you're in the queue you can also learn about the history of the Peak Tram (gallery). There are numerous antiques stationed there including the tickets, uniforms, way of boarding and the statistics back then. Thus, a complimentary 'museum entry fee' included in the price of the ticket.
Overall, the trip itself takes around 5 minutes up the peak and is the fastest way up and down. Its closest competitor, a minibus route takes around 20 minutes due to the curvy mountain road. The tram's route is operated on a single railway with a passing loops and travels at 22 km/h (14 mph) which is pretty fast for a steep 35-45° climb. Up to 120 people can be on the tram at any time with some standing and serves 12,000 people a day.
In conclusion, though it offers great views, it remains a fairly expensive mode of transport (compared to other Hong Kong transport) going up Victoria Peak with limited frequency at 10-15 minutes per tram.