As others have said, the problems with this hotel are evident as soon as you step in, yet it remains a decent value. My room was fairly comfortable with two queen beds and strong AC, but the faucet on the bathtub drips quite a lot of water and hotel employees do not seem to care at all.
The pool area is also pretty weak, with no hot tub available and no sun during the fall months. You can go to other pools in the area, but the nearest pool at Quad requires a hotel key card for entry.
There aren't many good restaurants near Harrah's, as this area generally seems to cater to bargain shoppers. The burger restaurant KGB isn't bad, and I would recommend that if you're trying to eat near the hotel. They had a Groupon while I was in Vegas, so check for that if you're interested.
On the up side, the location is good and you really shouldn't be spending much time in your hotel room anyway. Most of the benefits of the more expensive hotels are available simply by walking over to them, so why pay the higher price just for a room there.