Stayed there for 3 nights while visiting local friends. Hotel very conveniently located, 1 block from the palace (nice evening walk by the moat), and close to Mandalay Hill (for the morning climb). Also very close to the Sedona hotel, which provides ready access to trishaw drivers who park on the corner of 66th street.
Good/bad: hotel is RIGHT next to Mintha Theater (and very close to the Mandalay Marionettes Show), so you can hear the Mintha show from your room - not too bad as it doesn't last all that late. Also, being so close to the Sedona, if there is an outdoor concert there, you will hear it.
It is NOT exactly close to downtown, which, for me, is good. A trishaw took me to the Moustache Brothers show, there, wait, and back for something like 4000 kyat.
Staff is VERY helpful, even making some local calls for me. Breakfast is standard fare.
Rooms are decent, beds comfortable. Dorm size fridge in room. Bathroom quite large. To be honest, truly hot water seemed to be a bit iffy - 1 morning I had it, the next I didn't. Maybe if I had just waited longer... A/C is VERY good. I did have some problems with mosquitoes, but a stop at a small shop got me a can of insect spray - dosed the room before going to sleep, and problem solved
On same street, behind the Sedona, is Zone Express Travel, which changed money and had a counting machine - very handy. Reasonable rate.
All in all, great location, very comfortable and convenient hotel, with very friendly staff. It's not plush, but then again, I didn't come to spend a lot of time in the room.
