Oldie but goodie is how I sum up the California Hotel in DTLV. I have stayed once at this hotel as it was dirt cheap. Our room was clean, well kept. And for it being downtown, I can actually say I felt safe. It wasn't the Palazzo, but heck, for the price you pay, it is pretty worth it especially if you are enjoying Vegas on a budget.
I also like the fact that this place has cheap eats! On the 2nd floor of the hotel you can dine and have the best Saimin in town at Aloha Specialties Restaurant. You have then walk across the way and enjoy an ice cream cone at Lapperts. When I go to Vegas, these are the two places that I must stop at no matter what. :)
Downstairs they also have their Market Street Cafe which has great deals on pretty good food. If you eat there after 11 pm, I believe the food is even cheaper!!!