We spent a weekend here in May and have nothing to complain about. Although this is a motel-style establishment, the room is one of the nicest for this quality of accommodation that we have ever enjoyed, Rooms are clean, have comfortable beds, a microwave and refrigerator and a flat-screen TV. They aren't fancy but they are quite comfortable.
The location is great- it's two blocks away from the water (most hotels in Manzanita are within a few-block range and perhaps one is actually located on the water) and is easy to access. There's a parking area for guests.
Most importantly for us though, the Spindrift Inn is very, very dog friendly. It charges a minimal amount ($10 per night) for a dog room and even gives you a sheet, a dog bowl and a towel. One of our favorite things about this town is how dog friendly it is.
It is a great value - I'd happily stay here and and recommend to friends.