It's very cheap for Vegas and we didn't experience any problems. Centrally located on the strip; we could see the Bellagio and Caesar's from our room. The best part was being able to watch the Bellagio Fountains from our window! This hotel has the basics down, nothing fancy, no frills kind of place. Outside the hotel, you can check out their birds and waterfalls.
Flamingo's buffet isn't that fancy either. It's cheaper than the other buffets, but not as good. I remember there were some choice pieces of dried fruit (esp. papaya) but it was only slightly better than a typical brunch buffet you'd get at a typical restaurant. You get what you pay for in Vegas.