The Excalibur is certainly not a ritzy hotel and it does show it's age. However, the location of this hotel is the big selling point for me, since it is very conveniently located on the Strip. Upon arrival, you can self park your car (for free) and not have to drive again.
The main pool was PACKED with children, so my friend and I paid $10 for the adult pool, that was money well spent. We went in to the adult pool around noon, got out and went back in around 7pm (right before closing). There was a drunk and loud crowd around the pool later in the evening, but it was quite peaceful in the morning.
Our room was OK, the size is pretty good and we didn't feel cramped with our two queen beds. The room was clean, but we smelled some body odor the first day of the trip in our room upon entering.
I would recommend staying here if you are looking to do Las Vegas on a budget. The only small gripe that I have is they only gave us a limited amount of wifi, but we were careful and never used it up.
We stayed mid-week and the grand total for 2 nights was $107. I was overall content with our experience at this hotel.