Stepping into the Florida Hotel feels like going back to the 1970s ! Even the receptionist is still using a traditional type-writer - must be the only one still in use in Bangkok !
I believe the Florida Hotel was around when American troops stayed there on R&R breaks during the Vietnam War - and as far as the standard rooms are concerned, little seems to have changed since then. The clientele at the Florida seems to be mainly Thai business people (ie sales rep types).
Despite this, however, at 1100 Baht per night for a Standard Room (including a reasonable American breakfast of eggs / ham etc), I think this hotel is quite good value. There is also a swimming pool and the staff at reception are very friendly and helpful. The standard room furnishings, however, are very basic and quite dated (ie "old."). The so called "hot shower" distributed only lukewarm water when I was there, but this I found adequate after suffering the heat and humidity of Bangkok. If you want a "hot" shower though, this may not be sufficient. I found the bed comfortable and sheets clean. Rooms are cleaned daily.
As has already mentioned extensively here, the location of the hotel is by far its main asset, being situated literally right next door to the Phaya Thai BTS and Airport Link stations. It is also convenient for the Morcit2 Northern Bus Terminal, which should cost about 100 Baht fare using a BTS / Meter Taxi combo. Also, from the Florida you can walk to the Siam Centre in 20 minutes (or a couple of stops on the BTS) and the Panthip Plaza IT mall is about a 15 minute walk from here.
The rooms are OK for a couple of nights stop-over, but I would not recommend a longer term stay at the Florida. For the price and location, however, I believe the Florida Hotel represents a good value place to stay in this area of Bangkok.
Keith