Love the El Cortez. Bellmen and valets that remember your face, if not your name, and always ask how things are going. Like the coffee shop and the Flame. The "shuttle" that will take you back to the airport weekdays is a beautiful Town Car, not an Econo-box.
Comps are easy, they have a little gym in the Cabana Suites building. Not a great gym, but enough to break a sweat. Tower rooms are clean and comfortable, if not deluxe. OK, no HDTV, but then most casinos spend all that money on TVs, but give you the same 12 basic channels, plus of course, the in-house keno in stunning high definition...
If they had 9/6 Jacks at anything other than the 2 multi-strike machines, it would be pretty close to a permanent home.
As for the walk, with the new lounges they've added in the block between Las Vegas Blvd and the Cortez, there's really no need to feel unsafe. The new walkway a little bit off Fremont is very well-lit, but it is isolated. I'll have to add the caveat that I'm rarely out on foot after midnight and I rarely carry much money outside the hotel.