I stayed for five nights in early March. The hotel is very clean; the subway is two blocks away and the hotel itself is in a reasonably safe area of the city. Many atractions are walking distance, but at 1 euro a trip or 4 euros a day for unlimited use, you'll probably find the subway useful - there will be plenty of walking even if you do make use of it.
There are a few decent restaurants nearby for evenings when you're too tired to be bothered to go far, but no restaurant in the hotel. There are local shops where you can find the odd things you need, and a nearby internet cafe if you don't want to bring your laptop (the lobby is a wireless hotspot apparently, but I didn't try it myself - my vacation included a break from email!)
I have a few criticisms. First, the breakfast buffet is okay but not stellar. They do have the worst damn coffee I have ever had the misfortune of getting out of one of those automatic machines. It was netiher cappichino nor plain coffee, but some sort of weak, frothy inbetween thing whose sole virtue was caffeine content. Since the buffet doesn't start until 7am, if you're a morning person each day can be a bit of a coffee crisis. There are nearby coffee places which are quite good.
Second, I found the desk staff to be amazingly helpful and friendly. They were endlessly willing to give directions and advice. However, they distribute some written directions on how to get to certain locations using public transportation, and some of their busstop information is not correct. However, all things considered, they do a fabulous job of helping their guests get around the city and with a bit of double-checking that sheet they'll be first-rate in this respect.
The rooms are very comfortable, but the climate control can be a bit off. I believe they were running the heating during my visit - the lobby would be comfortable but my third floor room got quite hot at times and I was opening the window to get comfortable. With all the pretty incandescent lighting, it can get really warm - I had to turn off most of the lights as well to avoid a broil situation. It was manageable, but I can see problems in warmer months - request a lower-floor room away from the street is my advice.
Some people seem to think this hotel is expensive, but it's really very affordable for Rome in general, especially considering the location. I would stay there again - if you want more creature comforts, expect to pay quite a bit more than their rates.
I've stayed in quite a few European hotels and it's always a bit of a shock if most of your travel experience is in the US. This one is quite good value in my opinion.