My Wife and I stayed at the Excalibur for the first week of our honeymoon.
Trying to find the area where you check in is a challenge (as it is with most of the large hotels/casinos in Vegas), you get constantly harassed by people in the Hotel trying to sell you shows, and the Casino is always smelling bad unlike some of the other hotels who filter it very well.
The room is very basic. No icebox/mini fridge, very few channels, etc. Overall, the Excalibur is a low class hotel with cheap prices and is good for doing one thing: Saving your money to do other things in Vegas. This was the reason we stayed, except when you walk into the the other Hotels such as Venetian, Caesar's Palace and NYNY, you realize how low class Excalibur is.
Next time, we will likely stay somewhere else such as New York New York, if we even go to Vegas at all anytime soon.