Miguel and Ana were great hosts. The communication before the trip was great, they passed on recommendations for local places to eat and things to do, and even let us leave bags in the apartment on our last day as their next guests weren't due until mid-Afternoon. Basically - they are really lovely - and really tried hard to make sure we enjoyed their apartment and Madrid. Thank you Miguel and Ana :-)
The apartment is great for a family of 4 (as we are). It's in a great location for exploring Madrid - we didn't really use the Metro/public transport much as we walked most places. The Palace is 10 minutes walk away, and Retiro park (opposite direction) is about 20-25 minute walk. The apartment was very clean, well maintained, and had everything we needed for 5 days in Madrid.