I stayed in this Pousada for 1 night. We had a superior room (number 116). The room was simple but nice, spacious and clean. It has a view over the pool and the roofs of Olinda. The bathroom was a bit dated and the electrical shower looked dodgy (electrical cables where visible). There is a minibar and a small safe in the room. There is also airco, but it was very loud, so we switched it off for the night. In the morning I woke up from the noises of pots and pans in the kitchen, so if you look for a very quiet place this room is maybe not suitable. The location of the Pousada is very good. All of Olinda's sights are in walking distance and the area felt safe - also at night. There was a rich breakfast buffet with hot and cold food. The staff is very friendly and all the reception staff spoke good English.

Spent 2 nights here. It's a terrific, large, old colonial-style building. There's a pleasant courtyard, plenty of outdoor tables & chairs, and a small pool.
The interior is very nicely renovated and tastefully decorated. Lobby is welcoming, and the dining/breakfast room is pleasant.
The staff were friendly and welcoming, especially the porter, the breakfast lady, and above all Juliana at reception, who was very charming and helpful.
There are 4 types of room: Standard, Lux, Lux Superior, and Suite. We went for a Lux Superior - it is "superior" because it has an extra-nice bathroom with a jacuzzi tub, and because it is one floor higher, theoretically offering a better view.
In reality, we did not use the jacuzzi, and the view is only a partial distant view to the sea, over the rooftops. So if you don't think you will use the jacuzzi either, I recommend either downgrading to the Lux room and save a few reais, or upgrade to the suite, which I believe has a varanda/balcony. In any case, the Lux Sup. room itself was good; spacious and nicely furnished. WiFi was too weak in the room, but strong in the lobby.
The location is central, within old Olinda at the foot of a Ladeira (very steep street) which leads up to the plaza da Sé - here you will find a historic church, some shops, food stalls, and a great view. Old Olinda is very compact, and you can easily see it all on foot from the 4 Cantos, even if you only have one day.
If you are there on a Sunday evening, be sure to join all the locals hanging at the Sé plaza, and then pay 3 reais to enter the Preto Velho social club where the Carnaval musicians are practicing.

Our room and bathroom were very clean. The breakfast was excellent, with lots of fruits, juices, breads and even cake! The small pool was so refreshing and the terrace, with long chairs under shady old trees, was a great place to just lazy around after a day of visiting the old town. Service was good too.

All in all I delightful place to stay. The property is well renovated and in a beautiful spot.
I note other reports mention it can get noisy. Thats just Brasil. For the price, us gringos expect cable TV. I have stayed there twice and will stay there again.