Schizophrenic: some love it, some hate it, you'll see why.
Do read many reviews, because some reviewers love this place, others hate it. Here is the Good, the Bad, and the Ugly about this place: The GOOD is that, to me, the hotel staff were outstanding. The BAD is those beds with the sleep number adjustment that supposedly makes the mattress go from soft to firm. Wrong!! Search out online reviews, see all the opinions about sleeping number beds. Think about it: how could you possibly make a MATTRESS go soft or firm? It might work in theory, but ... can it work? Will it last? The UGLY: a colleague of mine showed me welts that she had, they were all in a single line about an inch apart, and they were on her arms, legs, shoulders. First they switched her room, then she changed hotels. If you are still going to book into this hotel, follow the usual precautions about infestations just to be on the safe side: Leave NOTHING on the floor, especially not any items of clothing. I ran into her the morning after she checked out, and she told me she'd had to throw away all of her clothing. She also told me that her claim about the problem being "bugs" was denied. But six bite marks lined up in a row do not lie.
Other important items to consider: the side facing highway I-35 is noisy (I learned this from other guests) and the opposite side (facing west, toward downtown) was noisy until 10pm or 11pm due to the many rockin' and foot-stompin' honky-tonk bars that run along Sixth Avenue that is right outside the hotel. On this one, I speak from experience, and I was up late so things seemed to quiet down around 11pm. The north-facing side also faces Sixth (off to the left side; the highway will be off to the right) so .. perhaps the south-facing side of the hotel might not have such a bad noise problem, especially the rooms further away from the highway.
The postage-stamp sized pool had lots of kids frolicking and having fun, and there was a hot jacuzzi next to it. If you need to swim laps, there's a Hilton a couple blocks away that has a decent-sized (for a hotel) pool, or if you have the time, the famous Barton Springs Pool is incomparable as it is VERY long (100 or 200 yards or more) and the bottom is like a river-bed with plants and rocks and beautiful fish in it. It's spring-fed and the water is incredibly clean; I felt like I'd had the most wonderful cleansing bath in my life after my swim there. There is also a spring-fed pool, with proper lap lanes, at Deep Eddy Pool, but the spring water there does not flush out as often as it would with Barton Springs and somehow the water there is way, way cold (which can be nice if the day is super hot).
I ate all my meals in or from the 18th-floor restaurant, as it was convenient and I was busy working. Except on my last morning I walked down to the nearby Hilton and had the breakfast buffet. If there is a next time (and there won't be), I'll make that walk every morning.
My stay was during the 2nd week of June, 2012. I love Austin when it's nice and hot outside, and next time I visit for a few days, I will buy the cheapest bicycle I can find which will be cheaper than taking a taxi everywhere. If you have a car, don't miss the Barton Springs Pool.