My husband and I decided to go to Rolex at the KHP this year at the last minute. Everything else was booked (or $250+ per night), so we took a chance on this apartment complex and we were not disappointed. You couldn't stay in a hotel nearly as nice for anywhere close to the price.
Pros: Location - although it was about a 25 minute drive to the Horse Park, it was 10-15 minutes to downtown and some great restaurants. Cleanliness - the apartment is spacious and fairly new, and had been well-maintained. Staff - although we didn't meet anyone (you receive the lockbox code by email), we had plenty of information communicated from the management company. There was also free wifi (password protected - you're given a password) and a pool / workout facility, which we didn't use.
Cons: Not really any major cons. I would recommend spending a minimal amount of money on some cheap curtains for the bed and living room. The furnishings are spartan, at best (no curtains...