If you're the kind of person for whom the hotel is a large part of your vacation - don't stay here.
If you're the kind of person for whom a hotel room is just somewhere to put your luggage, rest at night and take a shower as the rest of the time you'll be out - stay here.
I think as long as you know what you're getting, it's fine. It is well located and the staff friendly, if fraught. (I was checked into a room that already had people in it, which was actually quite funny, although the reception lady couldn't actually bring herself to apologize.)
The only BIG downside is the unbelievably paper thin walls. I've stayed in some dollar-a-night places in India and Africa, and in terms of wall-thickness this ranks WAY DOWN there with hovels in Delhi or Nairobi. For goodness sake - BRING EAR PLUGS!!!
Pros: Value, Location
Cons: Needs refurb, Thin Walls
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