Me and two friends have just returned from a week's stay at the Ilias Studios. We were actually really impressed as we weren't expecting too much to be honest. The Apartment was a good size for the three of us, very basic but was clean.
The location was ideal as its a 10 minute walk from the nightlife which is close enough but not too close that you can't get to sleep for all the noise!
We found the cleaners and owners (who live next door) to be very helpful and friendly. I think as long as you don't play your music too loud late at night and are quietish then they're happy with that.
Overall Ilias Studios are not luxurious by any means but for a week's holiday where are you not planning to stay in your apartment all day, they are ideal.
There is an excellent pool with bar/snack bar in the Cleopatra Superior Hotel which is just down the road!