Just okay
My husband had his annual meeting there this week. The hotel is truly a lovely old hotel, but I still cannot get over the size of the bathroom in our room! Literally, your feet were up against tub when using the toilet! I'm guessing my husband's feet were in the tub...
The only food we/i ate there was served during the meet and greet, one luncheon and one dinner so we did not have to pay out of pocket at the time. The food at the meet and greet was nothing to brag about and the foods that were supposed to be warm were not! The luncheon foods, roast pork w/potatoes, a salad and some kind of chocolate dessert were a little better than okay. The dinner meal was not even lukewarm and included beans (tasted like they were from a can); catfish balls (??) that were like hush puppies, mac and cheese (not impressed at all), fried green tomatoes (is that really what they were?); and ribs (didn't even try those - looked very, very dry). There were other foods available on the buffet which I did not try.
We did partake in the $3 martinis on Monday and I would recommend the blue/coconut ones -- they were delish. We heard over and over again from other attendees that we should not dine there as it was not worth the money.
We were given a recommendation for the Blues City Cafe on Beale Street, a short 2 block walk.. We ended up eating two dinners there. 
For the most part, the staff was okay, just okay, other than the young lady who was involved in one of the sponsored tours and also was in charge of the band the night of the dinner -- she was very sweet.
The retail stores in the hotel were extremely overpriced. I bought nothing there.
I am quite sure that if would have had to pay the regular asking price to stay here, it would have never happened, but I guess for less than $150 per night (which was the negotiated rate) it was okay (geez there's that word again!). 
Visit the hotel, see the ducks (which I didn't) and visit the rooftop (the best part in my opinion) but I would recommend staying elsewhere. For the sake of convenience in attending a baseball game, going to Beale Street or taking a cruise down the Mississippi, this was not a bad location, I will give them that much.