I'm not a huge Thai food connoisseur or anything, but Thai Elephant definitely hit the spot. I got the drunken noodles with chicken -- MILD, based on a handful of the reviews here -- and it was excellent. Not too spicy, but still with a little kick to remind you you're eating Thai. The flavor was great and the lunch portion was perfect. The veggie roll you get with the special isn't anything to write home about, but that's okay. Not that important, but the mints you get here are those awesome melt-in-your-mouth chalky mints you always get at weddings. I made sure to snag a small handful of them.
The restaurant itself is very clean and you can definitely tell you're in Tempe, because all I saw working there were college-aged kids, mainly women. They were all pretty friendly and the transaction was brisk.
Prices were definitely reasonable for a working lunch. My only (sort of) negative is that the parking is weird. There's no lot facing University, so you have to pull into a side-street and into a back lot that took a little tiny bit of snooping to find. Not huge deal, though.