I reside along the later stretch of 120 approaching Jalan Bukit
Merah so it is closer than Telok Blangah MRT and besides, the
terminal's proximity to NEL Outram Park is easily walkable after
alighting. Also, purely speculation, there could be an Outram Park
ITH in the far future bulit on top of TEL that may house future bus
svcs originating from NBR.
True the new terminal is quite far from Outram Park. I assume
you take 120 from Lower Delta road stop to NEL Outram
Park.
You may want to walk to the stop along Jalan Bukit Merah as you
will get 147, 197 and 961 at pretty good frequency.
If you are closer to Tiong Bahru road, you have the option to
take 33, 63, 122, 851.
And if you really hate walking or have leg pain issues, take 120
and transfer to 147, 197, 961. There is usually a bus in that
direction every 03 minutes.
Either way you are in quite a good situation.