Yosemite's Housekeeping Camp is exactly as described. It's in a great location right in the Valley. It's an easy walk to the main visitors center and both the Valley Village and Half Dome Village. There are A LOT of shelters in the Housekeeping Camp area and it might feel a little crowded. When you register you can preference a riverside site for no extra cost which is certainly worth it. The structures are built so there are two sites per building, you can hear your neighbors. The fences around each site are angled to maximize privacy. Each site is equipped with a table, lights and outlets, beds and a fire pit. Showers and laundry are available. It felt a lot like I was at summer camp.
I wish the river had been higher when we were there, it was a little low for swimming. It's certainly worth it to take the shuttles around the valley rather than sitting in traffic. Even in late September all of the sites were booked and the parking lots filled up.
Recommendation: take the drive up to Glacier Point, the view is incredible!