The Brown Palace is a lovely hotel, especially at Christmas time when the lobby is decorated very lushy with tree and trimmings. My husband and I have stayed twice when our holiday party was booked at the Brown. The service is amazing, very attentive and works to ensure they keep a reputation of having good service. We only dine at the party which had very good food, classy and lots of variety but I've heard the pub has excellent food and there is a fancy piano and mid-day tea that is supposed to be excellent. Brown Palace is definately expensive but in line with other nice downtown hotels. You do pay for parking and valet is pretty well your choice on a daily rate.
As for the rooms, Brown Palace has a variety of choices from a standard king up to nicer suites. The suites and anything above the standard room are amazing. They are spacious, have old-time decadence to the furnishing and are very comfortable. On the standard room, you are still paying $140 or more a night and sometimes the rooms are so crowded with the furniture, only one person can pass between the bed and the armoie holding the tv. If you are staying one night, this is probably OK but if you are staying several nights, you should consider this.
If you love the location and are planning on staying in the standard room, consider the Brown's sister property across the street. The Comfort Inn Downtown is connected by a skybridge to the Brown and is considerable cheaper while still a nice hotel. We opted for our 3rd trip to the Brown for a party to get a corner king room at the Comfort Inn instead. It was maybe $25 less a night but the room was twice as big and two walls were windows looking over downtown Denver. It was a very lovely room and only downside was in the middle of winter, all those windows can make the room a little chilly.