Generally speaking, it's a fine place. Location is great, and I find the noise complaints to be a bit exaggerated. If you're going to bed at 10 PM, then yes, this is prob not the place for you, as it's central to nightlife. When you get home after the night's done, the area is rather quiet (city quiet, this isn't the suburbs). Otherwise, you can close the windows and turn on the AC.
My one qualification is the bathroom, I was standing in about 3 inches of water when showering, and the vanity mirror is located in an inconvenient frame 5 inches deep. All in all, location is the selling point, and I suppose the price if compared to hotels.