Would you recommend staying in Cernobbio or Bellagio?
Both are quite different. Bellagio is about an hour on a very windy road (although you might be better off to catch the ferry). Cernobbio (we have stayed there too) is probably better described as part of greater Como. When we stayed there we caught the ferry to Como and walked back to our hotel there (Regina St Olga). Bellagio has a certain charm that Cernobbio doesn't have. I've probably confused you - sorry. Stay at both!!!
Get an answer from Hotel Florence staff and past guests.