We stayed here for three nights this week. I really liked our room and we were upgraded to a suite for no charge. Our room had a huge bathroom, a dining room table and chairs, a sofa, comfy chairs and a queen-sized bed. The decor was nice but the paint job was shabby in some areas. The view was decent; we had a partial view of the Bellagio fountains (we were in the North tower), the Rio, and the mountains to the west.
You can definitely tell that Bally's is one of the more outdated casinos on the strip but truthfully, I really did like the central location and for $60 a night, we got a great deal.