Overall Thea Studios was a really lovely place to stay. The room had basic amenities and, given that you probably will be spending most of your time exploring the island, was perfect for the stay. The balcony and pool were also great for when we wanted relax.
It is a bit of a walk into town (about 15 minutes) and can be dark at night so make sure you have a small flash light or the light on your cell phone but it was nice being a little out of town since Fira is so busy.
We were able to set up shuttles to and from the airport which was nice and Dimitiris was very helpful in making suggestions of things to do (he helped us book a boat tour of the island one day).
I would recommend staying at Thea Studios if you're looking for simple, affordable accommodations in a quiet but accessible part of Santorini.