OK for tourists, bad for families and business travellers
I was a guest from Nov 16-18, 2012.
The hotel is rich with history given its 150+ year age. Location is great and right next to the Alamo and a little over a block to the best part of the Riverwalk. Close to lots of shopping. The courtyard pool is large although I don't know if it is heated since I didn't use it. A beautiful second courtyard has a garden that would be great to sit in and enjoy, reading a book perhaps. Quick and efficient valet and bellboy service. $30 /day to valet which, given available parking in the area, is really the only option. Unfortunately, the good ended at the ground floor for me. 
I could only get full bars on my iPad and PC WiFi devices if I stood at the door to my room. No bars at the little desk in the room. Even when standing in the hallway the bandwidth was so limited that I couldn't even get email. Web browsing was out of the question. I asked the front desk who stated that other guests were also complaining and they had the "IT guys" on it. Nothing in that respect changed in the 3 days I was there. Even in the middle of the night I had no Internet.
The room was bland and looked old. Furnishings were well worn. TV was an original model apparently from the 20th century and unacceptable to me. No mini bar. They did provide $8 bottled water and a free coffee maker. The view from my 4th floor room of the large pool and patio courtyard was OK. A room overlooking the garden courtyard would have been nicer for me. 
The room was clean. The bedding and pillows were average. A/C worked fine although it was not perfectly quiet.
Compared to 2 other hotels I have stayed at, which were right on the riverwalk, this comes out in third place. I won't stay here again. I consider it poor value even though I was supposedly getting a half price rate. I wish I could give a better review.