Although I don't have experience with priceline and LBV, I have used it for other areas. It really depends on how much need the hotel has to fill empty rooms. If it's a slower time of year, you have better success. What type of hotel are you thinking? If it's a 1 or 2 star hotel, I think you could get $50 or less if it's a relatively slow time of year.
Don't forget that with Priceline, the price you get does not include tax. We just came back from a trip to Busch Gardens. We got a 2.5 star hotel (Holiday Inn & Suites- they were all suites) for $55. With tax, it was $70 (I'm guessing there are some fees in there as well).