I have spent a few months in an apartment building right next door to the Ibis. The Ibis is a newer property which looks fairly clean and modern. I have not seen the rooms, but the common area was fairly nice, especially for the price of the hotel. The location is fairly quiet, but there are a number of small restaurants and street vendors offering good and cheap food about a block away, on the main street.

They have a boat connecting it to the Skytrain (Saphan Taksin) and the riverboat ferries (which are right across the river). The only downside is, at least a year ago, the boat was shared with the apartments, and it does not run as regularly during the weekend as it does on weekdays. There is a bridge across the river, but it is a bit of a hike. It is a good location if you just want to stick to the riverfront and the main tourist areas (the palace and the main Wats are along the river, easily reached by the river ferries). Personally, I really enjoyed just riding up and down the river on the ferries, and just exploring the various stops. If you are interested in nightlife or shopping, you would be best to stick with the Siam/Silom area. I would definitely consider staying at the Ibis if it was for a short stay.