I would highly recommend this hotel, and I think I am pretty picky. I got a great rate (under $45/night) and for that price I was really, really impressed. No, it is not a five star resort, but it is clean, the AC is great, its in a nice location, and the people who run it are SO nice. I would say it is more like a $200/night place (atleast by NA standards).
The building is new, so everything feels fresh and clean. The AC is great, it takes under 10 minutes to cool the whole room down. The bathroom is great, pretty basic, but it has everything you would ever need. The location is fine, about a ten minute walk to the main Patong beach strip and there are lots of spots to eat on the way. The ladies at the front are super sweet and are over-the-top helpful. If you want to do a day trip or get a cab, they will help you out in a second. They set me up with a day trip to Koh Phi Phi for 1300 baht. It was almost half the price of what others on the same tour paid.
Two things to note.. There is some construction going on near the hotel so if you want to spend a bunch of time in your room during the day it might not be the best (as I recall the noise started about 8am).. Also, there are no amenities (no pool/gym), so this hotel is awesome if you just want a nice, comfortable place to sleep, but you are going to explore the beach/city during the day. If you don't like to go to far from your hotel, then the Artist House might not be for you, stay in a resort.
Could not have been happier with my choice to stay here. I hope they can maintain this level of service. It was top notch.