I spent 4 days last week in Memphis for work. It wasn't my first trip there, but it was the first time I've actually stayed in the downtown area. It was a nice week. The weather was beautiful, even if I don't like the humidity.
On Friday before I flew home, my friend and I went to Graceland. I'm not an Elvis fan but it was fun to see. I would say it's fun to do once, if you are in the area.