The straight dope is that they do offer a great service. I recently booked a hotel in Cleveland for $45 which is less than half of it's official website price.
I've heard concern from people that you don't know the hotel before you book it-- and that's true if you name your own price-- you can opt to go the straight route on the site and choose from the listed hotels, but you won't get the amazing price.
I can tell you that PRICELINE's star rating is solid-- in fact I'd say a 2.5 star hotel is 3 star by my definition and I am very picky. DON'T OPT for anything less than 2.5 star-- and if you're crazy picky go with 3 star hotel or better. They are name brand hotels like Marriot and Courtyard so you really have nothing to fear. I've used them multiple dozens of times and have never had a bad experience.
PRICELINE!
