I stayed here in November as part of a pre-organized group tour. We were already warned beforehand that it was going to be the worst hotel on our tour and not to expect much. However, the location was perfect, a 5 minute walk to the MGM Hotel and The Strip.
Did not have any major problems with the hotel but wouldn't recommend walking around its grounds alone at nighttime ... the cop cars scouring the hotel carpark at all times of the day said it all for me! Dodgy looking characters roaming around and I got sick from the breakfast in the Denny's by the hotel (as did one of my traveling companions) but apart from that it was ok. For the prices they charge per night, you can't expect much.
BTW, the Best Value American Inn at Eloy in Arizona was FAR worse than the one in Vegas ... have not stayed at any of their other properties but from these two experiences, I would avoid this chain in the future! There are better hotel chains in the US.

The hotel is in an excellent location near the MGM Grand and Hooters, and the person at the front desk was very personable.
As for the actual rooms and the sketchy people hanging out near the hotel in the evening, it left a lot to be desired.
The rooms appeared clean at first, but the mold around the bathtub, the bathroom door that wouldn't close and the foul odors told a different story. It impossible to sleep - even though I had a full day of walking the town and seeing a concert - because of the offensive odor of the bed/pillow and the paper-thin walls that allowed me to hear everything anywhere near the room.
Ultimately, the room was used from about 1 to 4 a.m., when we couldn't take it any more and decided to leave town without a night's sleep.

Got a good deal on priceline for this hotel. $30 a night on Halloween weekend not bad eh? Anyways, the rooms are small, if you're traveling with more than 2 people, I suggest you look elsewhere. These rooms are good for 1 or 2 people and no more. The location is great, 10 minute walk from MGM Grand, and next door to Hooters. The front desk staff was nice. If you're in Vegas for the hotel and bumming around, don't stay at this hotel. However if you're like me and only use the hotel to sleep in, this place is excellent for the price.

Pros: Good location, 10 minute walk from MGM Grand.
Friendly staff.
Cheap ($30 a night avg the weekend I went)

Cons: The AC in our room was finicky, sometimes it'd work, other times the air was somewhat warm.
Same with the shower, hot water and cold water appear at random. Whatever, $30 a night in Las Vegas :)
Small rooms, travel groups of 3+ beware!

My family..2 adults and 2 teenage boys stayed here for 6 nights, and loved it. Yes the rooms we smallish, and it was old, But after travelling the world for 2 months prior, the room was no different in layout to the Sheraton, comfort inn, Holiday inn etc. When you consider you only go there to sleep and freshen up it was an excellent choice of accomodation. We had a 24hr restaurant and swimming pool, laundry facilities...For the better part of the day if you are not sleeping you are out and about sightseeing. For goodness sake you are in VEGAS.....If you want to spend 24hrs a day in you room, go to the Bellagio or Caesars palace.
Most days we slept until 12pm and walked the strip new and old until 3am in the morning, fell into bed and did it all again the next day....You get what you pay for, nothing more.