I would give this place 5 stars for location and price alone. However, it is NOT a 5 star estabilishment, so it's getting bumped down to 3.
We stayed in a "newer" flatscreen room on our most recent trip, but I've stayed in one of the older rooms on a past trip. The older rooms are just tragic when it comes to their decore. They are like a bad decorating nightmare. However, it's not much money to upgrade to a newer room and it's well worth it.
One of the things that really impressed me on this trip was the service. I don't think I've ever called housekeeping, the bell desk, and the concierge more in a three day period than I did while staying at The Excalibur. The staff was always prompt and friendly with every question and request.
There were a few odd things about our room, though. For one, a hanging lamp seemed to be located in a spot above the table in which my head found itself repeatedly, (dangerous...), and the outlet in the bathroom was in bad condition. It was hard to keep items plugged in.