A: Peter, private holding room? It sure beats rockup.
B: On yes. it's the upside of a "special priority defendant." Downside, everything else. How are you? 用 英語 (美國) 要怎麼說？

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Private holding room? = he will get his own personal room to stay in

It sure beats lockup = better than being held in a common area with prisoners?

it's the upside of a "special priority defendant." = being a high priority defendant (ie someone the government thinks is special and important) comes with advantages

Downside, everything else. = everything else about being high priority is a disadvantage (? I guess the press coverage, etcetera l