I would stay here again!
We visited the Holiday Inn Express, which was a great hotel for what we paid at this location, August 26-28, 2007. Most hotels around Cannery Row cost a lot, and they charged for parking. Once we parked our car in the undergroud garage, we never moved it for the two nights we stayed here! We walked everywhere: Cannery Row (a block down the street), Monterey Bay Aquarium (about a 5-10 minute walk), and Fisherman's Warf (a 15-20 minute walk). The free trolley that operates during the summer was a great way to travel to downtown Monterey.
As for the room, it was very clean and comfortable. We had a king, corner room on the third floor. Sheets were soft, mattress was comfy, and pillows were nice. Some noise could be hear, including seagulls at night, but it was not loud. The only downside to the room would be no refridgerator. The free continental breakfast was adequate (cereal, pastries, fruit, drinks), and wine and cheese was offered in the evening.
I would recommend this hotel to anyone looking to be close to Cannery Row, but not pay too much.