This is a very pleasant, quiet, clean hotel with nice-sized rooms and comfortable beds. We spent five nights here for less than $200; it would have been less except the rates went up for Bikefest. I'd say we got more than we paid for.
The ice machine never ran out. (Having to go to a different floor for ice is a pain, and I've paid a lot more for hotels that had crappy ice machines.) The water pressure if anything was too strong, something I've never encountered in Las Vegas. The pool area was pleasant, offering music and a nice hot tub as well. We could hear a litte of the bass from the Fremont Street performances, but it wasn't enough to be disturbing and we had a nice view. The hotel layout is smart, with the room elevators being just a short walk from the garage elevators so you don't have to schlep your luggage a great distance. The room elevators were being upgraded, but three of them were always in service and the wait wasn't long even when there was a big crowd of guests.
All in all, I'd definitely recommend the Fitz as a hotel.