(12 Aug 2015, 2:55 pm)S813 FVK wrote Very close indeed. If you exit the station at Waverley Bridge (the only exits i think), which is where the Airlink 100 and Tour Buses terminate, turn right and go to the traffic lights - that is Princes Street. Shouldn't be too difficult to find.
There's roughly three or four exits out of Waverley.
The main two lead out onto Princes St and Waverley Bridge.