Okay,
So after a three week trip to Italy in summer 08, I've been itching to go back ever since. This spring I'm lucky enough to have friends studying abroad in Rome that I can use as an excuse to go visit, but here is the problem.... the only time that I would be able to go is over Easter.
Because of my class schedule etc. I would have only 6 days/7 nights to spend there.

Do you think it's worth it (both cost, and hassle of dealing with easter crowds)? Or, should I wait and delay my trip until mid may, when only one out of the 4 of my friends will still be there?

Also, recommendations on economy priced hotels/apt rentals?

I would go at Easter - Rome will be even more fun with 4 friends. Will you be in Rome the week before or the week after. Not sure if it will make a difference but I was in Florence one year the week before Easter and it seemed like all the students were out of school that week. It might be better the week after Easter.

Inexpensive hotel recco - Hotel Papa Germano, near Termini. Very inexpensive and very clean. Internet access in reception. You might want to find out where your friends will be and stay in that area so post back on inexpensive hotels when you have a location.

Each season brings its own delight. One thing you want to make sure is that you have reservations where necessary. I have friends who never make any reservations. Since they were traveling in Italy on Easter, I mentioned that it would be prudent to make some key reservations.

Well, they didn't.

They didn't have seats on a long distance train. They could not find rooms in hotels and hated having to walk around hours in rain only to find an overpriced room.

They learned their lesson.

Any time you can go to Rome is a good time. Just adjust as recommended above. I would not miss the opportunity to spend time there with friends. You will have a blast.

The "crowds" at Easter are not any worse than crowds at any other time. Many pilgrims will go to the Vatican, but you can maneuver around that.

The difference in cost will be marginal.

Six days is a nice amount of time to spend in the city.

Bed and breakfasts in Rome can be a great bargain, and I can recommend the Pensione Barrett.

thank you all!