Pickles, my feeling the one time I stayed there is that it was like a "W" in another way -- the rooms were tiny, tiny (although I did eventually manage to get upgraded to a weirdly shaped suite). Did you have the same experience?
Cannot imagine that it is worth GBP375 a night. That's way pricier than I've been paying at the Churchill even if I add in laundry, internet, and breakfast (the Churchill provides bottled water)!