We stayed here 20 years ago on our honeymoon and returned to celebrate our anniversary this year. Our superior king room was on the 2nd floor right next to the elevator, but we never heard any elevator noise. There was a kiva fireplace, which was stocked nightly with wood, newspaper, and a "quick start" packet. We enjoyed the fireplace both nights - even though it was July - lovely and romantic. There is a daily 4 pm complimentary tea and sherry service in the lobby, which added to the charm and upscale experience.
The bed was comfortable - plenty of pillows, and a couple extra foam pillows provided in the closet. The shampoo, shower gel, and conditioner dispensers in the shower were a nice, convenient touch, and we each had a plush bathrobe waiting for us in the closet..
The location of the hotel provides perfect walking access to the square and surrounding shops, galleries, restaurants, etc. The surrounding area felt safe at all hours of the day and night.
The hotel staff were very friendly, professional, and accommodating. They provided us with directions to a nearby restaurant (Ristra - a wonderful French restaurant!), made reservations for a flamenco dinner show for us, and upon checkout, allowed us to keep our parking spot in their lot until 4 PM so we could enjoy our last few hours in Santa Fe without having to search for parking.
The only - very minor - drawback was that our balcony was adjacent to a balcony that was used by the hotel as a storage area for firewood, hotel carts, etc.