Stayed there March 2010 with my wife with a three night room comp; my wife's first stay there and my third stay there. Bottom line: We both would do so again .... on a room comp .... with all the room rates being sold at really great prices, these are not really worth the $ they ask for (at least the on-line rates).
Nothing fancy but the rooms are nice and clean with a comfortable bed and nice decor. Also had a microwave and mini-frig. They remodelled all the rooms over the last 2-3 years so I would expect all are still pretty nice. Housekeeping has always done a great job of keeping our room clean/nice.
Our only issue was noise; if you get a room on the Harrah's side (especially those closest to the casino) the noise from Harrah's can be really loud at time (i.e. when employees dump trash/bottles into the dumpsters and, especially when the trucks come to pickup the trash .... beep, beep, beep). If you get a room on the other side (i.e. pool view side), it's not nearly as bad but you still have the early morning trash pickup .... beep, beep, beep. If you are a light sleeper either side will be a problem but if you sleep pretty well (as we do) and get a room away from the Harrah's side (as we do) I think you'll be fine.
Editted to add:
Other pros to staying there include convenient close parking (be sure get to it off Audie and not off the strip!), short walk from your room to the Casino Royale casino as well as Las Vegas Blvd (with mid-strip north location), a McDonalds right next to Casino Royale (great for a quick cup of coffee, breakfast sandwich, large diet coke with extra ice, etc), and Casino Royale has a few good places to eat/snack as well (Ben& Jerry's, Cinnabon, and (our favorite) a $1.99 foot long hot dog place! The Venetian, Palazzo, and Wynn are close by and are great places for touring/sight-seeing.
Until they recently remodelled the casino, I felt the rooms/location/other pros were 10 times better than the casino area.