Lolla would be well served adding more big DJ acts. That would be well received too; Booka Shade killed it last year and the crowd was going nuts even though it was obvious that most people hadn't heard them before.
As for accommodations, if you're trying to lowball it I stayed a solid hostel three blocks away from Grant Park http://www.hichicago.org/ Clean, your stuff is secure, three blocks from the festival entrance, free continental breakfast buffet, air conditioned and super close to train transfer stations for easy (and cheap) transportation to after shows and the airport. And four nights cost me about $145, hard to beat. Not to mention 90% of the people staying there that weekend are going to Lolla too so the vibe is cool. If I go to Lolla again this is where I'll be staying for sure.