Which one is it?
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I can't speak to the hotel itself, but the area shouldn't leave you with any real concerns. I will say this though, while it is technically within walking distance of the stadium, that is not a short walk. Google maps says it is about a 30 minute walk and that sounds about right to me. At the end of the day the thing that speaks the most to me, other than safety of course, is price.
Great attitude! I once found myself having to walk back to my hotel in Nice, France, from the Marc Chagall Museum, because I didn't remember the French name for a cab (Taxi, DUH) and walked about 3 miles, downhill, fortunately, stopping at every Bistro with a sidewalk cafe (and there were a lot of them!) for a 'piche' of wine. Perhaps the most interesting walk I've ever taken. :) Although by the time I got to the hotel it might be more appropriately called a 'stumble' rather than a 'walk'. :laugh:
Rem
I haven't stayed a the Millenium, since I live in Cincinnati, so I can't really say if its good or not. If it were me, I'd check in at the Hilton Netherland Plaza just east one block over. I have had some dealing with the office staff at the Hilton, since I work with the VA and we do quite a bit of business with them. We have never had any complaints, and it's considered one of the best hotels in Cincinnati. To get to GABP from either hotel, go east on West 5th Street about 3 blocks to Main Street, turn right and go about 2 block south and you'll be right at GABP. I would recommend the Holy Grail after the game just about everybody heads there afterwards. A friend of mine from work met a couple of coaches from the Giants there, just after the Reds dropped the second game.