I stayed at the Panamint Springs Resort with my parents over Christmas 2005. It was definitely not a "resort," (no pool, relatively basic accomodations) but it sufficed and was clean.
If you are very particular about having a luxury room, do not stay here. If you aren't quite a camper, but can deal with basic accomodations, this is a fine place to stay.
Also, considering that other hotels in the Park are 2-3x the price, the Panamint Springs Resort good value.
The food was excellent and the staff was friendly and accomodating. Even though the room itself wasn't amazing, this, to me, bumps it up.