I've stayed at RGI before. At 800B a night it is good value. Traffic over Xmas-NY was particularly heavy so it was a bit noisier than my previous trips. The baht buses were packed so I mainly took the motocy taxis from the corner 60-80 baht per trip, best way to travel in busy traffic.
Good firm bed, bathroom is just fine.
You'll need to factor in the costs of bahtbuses, taxis or scooter-taxis (great fun that they are!) because the walk back from town is no fun in Pattaya's humidity, even in January. Not a bad hotel, no complaints with the room (wifi bit sporadic though), but owner tried to double-charge me - for which the web agency (Agoda) have since given a 15% refund. Pattaya is a fun place for youngsters but I found the sight of Arthur C Clarke reincarnated hundreds of times over, each holding the hand of a young Thai girl, rather nauseous!
Only stayed for 2 nights in December but would recommend to anyone on a budget. If you're after a hotel that's relatively close to walking street then you've hit the jackpot. Can either get a cheap taxi ride to walking street or you can walk it as well - takes about 10-15 minutes to walk. Hotel itself had really good wifi connection which was included, tea & coffee and a fridge. Stayed in about 4 hotels around Thailand and would say this was the best out of the lot - you get what you pay for and more. Only issue we had was the guy on reception seemed more concerned about scamming us out of more money than actually checking us in . He advised us that there was a mix-up with our booking so we ended up having to pay a few more hunded baht! Other than the mix-up whilst checking in we thoroughly enjoyed our stay.
Ok so it was only one night, save money for out having fun. It does seem to be getting a little worn and uncared for, bit of mould here and there in the shower/bathroom areas. Look for this price best not to be too fussy eh? Double glazed balcony doors ensure zero noise from traffic. Nice firm large bed which I prefer, flat screen TV (why watch TV in Pattaya though). No breakfast but there are 20 places nearby with breakfast by the beach for instance, at 150 baht.
Only issue I have is there is no lift - so don't get a room high up. 1-2 floor is OK.