The first thing you should know about the Hotel@MIT is that it's right next to MIT. Well, almost - it's across the tracks (train) and halfway to downtown Cambridge - but that means about a four minute walk.
The second thing you should know is that it's got the cutest bedspreads ever. There is this adorable little mathematical symbols pattern on the covers.
There are also the standard amenities, like being in the same building as a grocery store (Star Market, a rebranded Shaw's), and having a decent view of the street, and offering acceptably cheap rates during things like MIT's Family Weekend.
What the Hotel@MIT did not have when I visited was little maps at the front desk. This was disappointing because invariably when you walk around Cambridge and look like you know where you're going, somebody will ask you for directions.
Another thing that our room did not have was a refrigerator. What do you do with half a cheesecake when you don't have a little refrigerator? In our case, we put it in a plastic bag and hung it out the window. (The windows do not open all the way, and they have little cranks.) I suspect we could have called the front desk and received better accommodation - but hey, it worked.