Stayed there a couple of seasons back. It was pretty ropey though we let them off as it was still being refurbished and as you rightly point out, is cheap as chips and handily located. Looked at it again last time I went over but it still gets terrible reviews on Trip Advisor etc so we went elsewhere.
As long as you don't expect luxury or decent service you should be grand - and it is well within crawling distance from the Jolly Roger - you don't even need to retain an ability to stagger
