Pretty much exactly as advertised, which is a good thing!
Noise: Bought earplugs and was able to sleep without any issues - I didn't try without, but it wasn't THAT noisy either. Basically it's just very thin windows (probably single pane glass), so things like a tram going by or somebody honking outside are pretty audible in the apartment.
Location is great, you can reach any point in the French quarter within 15-20 minutes of walking.
There's an EZ park just around the corner where we parked for $25 a day. Seemed the cheapest one around, and it had good reviews (some of the other parking lots mentioned break ins etc.).