Well, I can start by NOT recommending this hotel. I booked it online myself after researching a checking pictures on different sites. I thought it might be nice for the money, but I was wrong. We arived at the hotel, which seemed a little out of the way, but appeared nice on the exterior. (we were to stay 2 nights) After checking in, we were brought to our room. We had to duck under overgrown bushes to enter through the doorway (although this didn't appear the case in many of the other rooms). The room was dark as the bushes were also covering the single window. The decor was minimal and dark, which may have seemed cozy if the room was at least clean. My husband immediately "gave me the look" of disatisfaction. The bathroom was extremely small. The door hit the toilet when opened. The shower was broken and had obvious signs of mildew. The bedroom was uncomfortable. The TV barely worked (about 7 fuzzy channels). We went to bed that evening with flies buzzing around the light fixture above us! When I tried to call the front desk, the phone was dead. When we asked to change rooms, we were told they were full, but it did not appear that way to us, as we didn't see many people on the grounds. Individually these things would not be a problem, it was the combination of all. We did not stay the second night although they made us pay for 50% of it. It's also a little off the main area, it was an up hill hike from Thira and dark at night (taxis are not readily available).
However, the rooms were large (like a one bedroom apartment) if you have a family on a budget or are back-packing with friends and don't mind 'roughing it' a bit. The pool area and grounds were pleasant although we did not use it.
Santorini however, is an absolute dream of an island! We would recommend spending the bucks and getting the caldera view, or go to the other side of the island near the beaches. The black beach is gorgeous and the area has more of a resort feel to it, but is missing the charm that you find on the cliffs of the caldera.
Otherwise, go and enjoy the trip of a lifetime!!!!

We stayed 9 nights at Eltheon Apartments in Imerovigli and really enjoyed it. Its great value for money at well under 100 Euros a night for an apartment. Although you're not right on the cliffs of Imerovigli overlooking the Caldera, you are only a 5 minute walk from the cliffs with lots of cafes etc that you can sit and have a drink and watch the sunset. The Eltheon has a sea view to the other side of the island and the rooms are spacious, clean and serviced every day. The pool area is lovely as well. All in all, unless you want to pay 100Euros + for a caldera view, the Eltheon is a lovely alternative option.