As a kid, the first time I was in Vegas I stayed at Excalibur. I remember thinking it was a magical place like Disneyland because it's designed like a castle. Now... not so much. It's not the best hotel but you get what you pay for. I was barely in the room anyway.
Pros:
The hotel is cheap.
It is on the strip (far end).
Cons:
There is no central air conditioning. There is a loud unit.
Room service was extremely slow. It took a long time for my friends to get some towels.