Not bad, we stayed here this last weekend and it was conveniently located on the strip close to anything you'd want to go to. The tram connecting to the Mirage made it easy to jump ahead a little on the strip and cut down on some of the walking. There is also a show at night outside of Treasure Island that captures quite a bit of attention.
A friend and I came here for business mostly so it was nice for our boyfriends to have the casino below with everything they could want to keep themselves entertained.
Rooms were very nice and reasonable for Vegas. We paid 140 a night for a room with two Queens. I also really appreciated the free parking. That's the last fee I want to get tagged with on an already pricey business trip counting the gas costs. Another reviewer commented about the beds and that is no joke..they are really really comfortable! I'm regretting not checking out the brand of the mattress right about now
Only thing that I thought wasn't great is how far we had to leave to get any decent food. So many of the hotels have fantastic restaurants in them, four and five stars. Treasure Island had nothing worth eating so it made it a bit of a pain to get a quick bite if we didn't have time to go walking to another hotel with a better restaurant.
All in all I think its a reasonably priced hotel for the "Vegas experience"