Spent a week in Wells in August 2005. Booked B&B room over internet and got four poster bed. Room an odd shape and smelt musty but very comfortable and generally quiet. Car park can be a bit of a pain as you have to go though a winding route through the hotel. Room wasn't serviced on two days until we complained. Breakfast average but staff not too friendly. Nice receptionist was leaving, rest were "pleasant".
Wells is a great place to stay in summer and a lot of eating and drinking places within walking reach at night if you want a chilled out type of holiday with day trips to eg: West Somerset Railway, Bath, Bristol Zoo etc.
Fountain Pub was excellent on first visit but second visit virtually refused to serve bar menu rather than expensive and limited restaurant menu so we walked out. Great real ale pub down the bottom of the high street - can't remember the name but they also sell draught cider. Antons was excellent.
Bishops Palace is worth a visit - lovely and tranquil, also the Cathedral and Coffee Shop. Good farmers type market on Saturdays.
Chinese takeaway pretty basic - I wouldn't go again.

Stayed for one night, arrived in Wells by car and decided to stay there for the night. Located the Swan - Negotiated a last minute room rate with the hotel front desk staff member on duty (who appeared to be in a bad mood) and wouldn't budge on rate and tried to charge us rack rate for a room that would go empty anyway...lucky for us the new hotel manager was within earshot and agreed to a last miunute discount on the room. Rooms were adequate with all the services you would expect from a three star property.
The hotel is the place to eat...we walked all around town - there is a shortage of decent restaurants in Wells. Give this hotel a chance and dine there - do not go to the Italian restaurant across the street - we did and it was far too expensive for what you get...service was appaling. The dining room is very well run and the food is excellent....