The condo is right in the heart of everything and just a short walk from some decent restaurants. The Argentine Steakhouse in the shopping center where Hard Rock Cafe is located is outstanding.
If you're looking for the nightclub/bar scene you'll be pleased that it's only a short walk away. If you're looking for "real" mexican food, though, you'll need to search away from the area. Most of the restaurants are of the American chain variety (Hooters, Outback, Hard Rock, etc.), but there are some decent local options if you look for them. There are a couple of little local joints across the parking lot from Plaza Caracol which is across the street from the condo.
I would highly recommend renting a car regardless of where you're staying in Cancun. Unless you plan on spending your entire stay within a mile of where you're staying, or you plan on hitting the bars heavily every night......rent a car.
Car rentals are cheap in Cancun. I rented a minivan for my boss ($53/day) and a full size car for myself ($25/day). It's about 30 minutes to drive from the airport to the Hotel Zone and the highway is a four lane divided highway all the way through the area. Roads are very well marked and easy to drive.
There are a number of other places within the Hotel Zone (which is about 20 miles long) that are worth a visit and lots of eating and shopping opportunities. Playa del Carmen is only about 45 minutes down the highway (there is a ferry to the island of Cozumel there), and the ferry to Isla Mujeres is only a few minutes from the condo.
Be sure to get accurate driving directions before you get to Cancun. The condo is located between the Fiesta Americana and the Riu, but is not well marked. If you go past Plaza Caracol you've gone too far.
Great spot, great facilities, and great value.
