In the pro column: the hotel's grass bar is decent, and even has beers on tap. You can get instant ramen in the lobby, and your room has a microwave. There's a swimming pool that's not full of rug rats. It's right by the freeway. If you don't mind a couple blocks' stumble, there are restaurants and a dive bar a few blocks south by south-east.
In the con column: the in-room coffee makers are old (though there's coffee in the lobby). The on-site laundry will do a number on your clothes -- like, the "warm" dryer setting is super hot. And they charge $15 per night for parking.
I say go for it, as long as it doesn't make your commute too bad. You can split lanes, after all.