Good for the price... A review of Holiday Inn Hotel & Suites St. Augustine/Historical District
... but it's not what I'd consider walking distance from the historic district. It is near the Fountain of Youth and Ripley's, but a bit of a walk to other sites. It rained while we were there so we drove around (we thought both the sightseeing trains were a waste of money) and eventually paid for parking. It was only $6 so it wasn't too bad.
As for the hotel itself: the room was fine, and the bed was comfortable, but I thought the bathroom could have been cleaner -- you could see mildew in some spots. The staff was quite helpful. We had breakfast at the hotel (not the greatest but I had low expectations on that front) and the waitress gave us a few tips for finding parking and for getting around. Everyone was very nice.
If you're looking to stay someplace that won't cost you a bunch of money and is reasonably close to the attractions, I'd recommend staying here. If cost isn't as much of a concern and you're looking to stay right in the middle of everything, I'd check into the Hilton or the historic hotel downtown (the name of which I forget). They're really within what I'd consider walking distance of the big attractions, St. George's Street and the fort...