I've stayed here a few times. I stayed for a few nights back in 2005 and found the place quite nice. I actually like the walk up to Nana and all the staff are lovely. I haven't actually slept in the place since 2006 if memory serves me right. However I regularly rent a room here for my last day in Bangkok as I usually fly out on the 2 am flight. Dump the bags and use it as a cheap base. The rooms have been modernized in recent years and and it is good value. Nice pool and a nice open reception area. You could do a lot worse.
I'm going to use the Nana Hotel for my last night on my next trip just for old times sake.