NY traveller -- I've stayed there a couple weeks ago on an award. Was upgraded to a junior suite. There was also a CD player in the room.
Executive lounge is quite good, with nice selection of drinks in the afternoon and great view of Condado. Executive check-in desk is much, much more efficient than the regular line (look for blue doors on the right when you enter the lobby). The newly remodeled grounds are quite good, very nice pool area. This hotel has the only private beach in San Juan. It is man-made and not very big though.
The hotel is relatively close to the Old Town. Taxi ride is a fixed rate of $6 (plus tip), or you can take a bus (M1 would cost you 50 cents, and B21 would cost 25 cents). Buses are brand new and air-conditioned, although timetable is non-existent.
Taxi to/from the airport is also fixed rate ($16 plus tip).
Also, you may want to check these threads:
http://www.flyertalk.com/forum/Forum57/HTML/000345.html http://www.flyertalk.com/forum/Forum57/HTML/000588.html http://www.flyertalk.com/forum/Forum57/HTML/000618.html http://www.flyertalk.com/forum/Forum57/HTML/001026.html