Honestly the only major drawback was that the internet connectivity was spotty and slow: several times it was simply out of service, which the staff was very apologetic about and fixed after 30 minutes to an hour. However, it happened 2-3 times when we were there at the hotel trying to plan stuff out, which was annoying. In addition, when it is working, it is not fast enough to stream video. E-mail and news and Google maps are not a problem (sometimes wait a few seconds for page load time). Yes, I'm demanding, and maybe unrealistically so: my guess is that no one in Cappadocia has broadband, but I didn't stay at any other hotel so I can't really say.
Overall, not that big of a deal, which is why I still give them full stars for our stay.
Room - authentic cave experience hewn into rock, bathroom large and clean, water pressure super strong and plenty hot
Service - very professional and accommodating (always someone greeting us to/from the hotel, carried our bags in, let us check in early since we arrived a few hours early, and check-out a few hours late, little touches (flowers in room), gift of an MDC mug when we checked out, made a phone call to our rental car place to speak Turkish and solve a problem, etc.
Breakfast - absolutely the best from our stay in Turkey in terms of spread; buffet style with tons of nuts, jams/spreads, fruit, bread, cheeses, sliced meat, olives, Turkish omelets, Turkish pancakes, juices, tea, coffee, etc. Real honeycomb. ll you can eat.
Dinner - also very good, reasonable prices, the Sac Tava dish was one of my wife's favorites for our entire stay in Cappadocia (including many meals at local places)
Location - walkable to downtown Urgup with shops, etc.; great base of operations for exploring Cappadocia region (shuttle buses pick you up for excursions each day, balloon trips, etc.; MDC Cave Hotel also has their own free shuttle to take you to downtown Urgup), if you have a rental car it has plenty of parking, views are nice with lots of outdoor space to lounge