The Magayon is a cheap hotel, and you get what you pay for. Literally.
First, I shall note that I reserved the room via hotels.com only 2 days before my arrival, and they couldn't find my reservation, even though I had a reservation number and some other info in text file in my laptop. So if possible, print out the complete reservation page before going there.
The initial room we got had a bad AC (seized bearing), so I had to go down to reception, tell them, they then sent up some maintenance guy who checked it, and about 15 mins later, he brought us a key to another room. So we moved. The other room turned out to have a rusted connection to the faucet and started to leak pretty badly. After another trip to reception and 30 mins later we were in our 3rd room. While sparse and old, the room was reasonably clean and spacious. While the room had a modern TV and cable service, the signal on many channels were weak, so there were lots of snow on the display and the audio was noisy. (they should fix their cabling and/or add some RF amplifiers), The TV in our final room did not have any accessible HDMI input, so I couldn't hook up my laptop to watch my movies.
They have a noon checkout with 150 PHP penalty for every extra hour. Since my flight was at 9 PM I tried to buy some extra time, but they didn't want to discount their rate. However, we could leave our luggage at the reception, and picked it up around 7 PM. That was a nice touch.