Here's the deal: most of the reviews you'll read on here are pretty accurate, what matters is your taste or sensibilities. Bottom Line: this isn't the fanciest place on the strip but it's a good deal and a good location.
Check-in: 4pm. You're going to wait in line. Everything is a line in Vegas. You'll have to deal with it. The later you check in the more likely you'll be stuck with a smoking room that you don't want. However, the guy at the desk was really great. He even gave me a recommendation of a great mexican restaurant in his hometown of San Jose.
Casino: This isn't fancy, but they have Dealertainers, celebrity impersonator dealers. The front is all under construction. Inconvenient? Yes. Horrible? No.
Elevators: Slow. I never waited in line for the elevator. I'm sure it happens but I didn't have a problem. Request the lowest floor possible.
Back Entrance: Under construction and awful. I couldn't find the front desk for a long time.
Shops: I paid $4 for a liter of water. Go to the ABC Stores in the Miracle Mile Shops.
Room: My room was obviously old, but not bad. The air conditioning worked. The beds were comfortable. The water pressure was good. Everything was very clean and the staff did a great job cleaning every day. I thought it was a great room for the price.
Wi-fi: Expensive. And cell reception is spotty.
Location: It's hard to beat. You're in the middle of the Strip. You have access to the Monorail. You can pretend you're staying at the Venetian and then walk down the street to IP.
Security: I was worried about security. Use common sense. I was worried someone would enter the room at night. I put the ironing board against the door. No one entered. There's as much security here as Caesar's palace. Neither has elevators that require room keys. Why would someone break-in here if Caesar's is across the street? People there are more likely to have money than IP.
Price: Cheapest on the Strip.
So that's my honest assessment of Imperial Palace. If you're the type of person who won't go to a Motel 6, then don't stay here. If you are looking for a good deal and you're not picky, you'll be fine.
Also, it seemed to me this was the spot for bachelor parties, bachelorette parties and the like. Just something to consider. I wouldn't really have kids here, but why bring kids to Vegas?