Yes, both beds are queen sized beds with identical mattresses on both.
Personally I feel 'how tight is the room when both beds are open' really depends on what you are used to at home. We live in a townhouse so are used to moving about in smaller spaces so we did not find the room to be too confining but for everyone who agrees with me you'll find someone else who will say they find it small.
I will say that the room between the wall and the regular bed plus the room between the 2 beds when they're both in use is tight.
@HopperFan provided the following measurements on the Pop Century Room Renovations thread:
Space between bed and wall by bathroom is 17 inches. But with the bathroom/sink room door slid open, you lose some space so it's 14 inches.
Space between beds is 17.5 inches
Have you stayed at Pop before? I will say when both beds are down the room feels a bit tighter in the bed area than it did before. When the murphy bed is up it feels much more spacious.
I hope this helps a bit.