I spent a night using my firm's corporate rate (also around FF 2,300) at the Madeleine in late February. Perhaps due to the rate, I didn't get a room that faced the street - the receptionist did advise that those rooms are more expensive and a little bigger.
Nonetheless, the room that I got - facing the courtyard, on the right hand side after exiting the elevator - was pretty decent in size. It had a big bed (not king, maybe queen?), a desk, 25" TV, above-average bathroom (in terms of size), and a one-person sofa. The room was very modern-looking, nice furniture, and they even give you a free bottle of Evian water and some sweets. Everything was very clean and of high quality. I had a good time staying there - definitely a cozy feeling due to the size of the hotel.
Nonetheless, does this property warrant the high rate that "Mad4Miles" noted? IMHO, NO. Sure, the rooms are clean and nice, but if I were paying $300 - $400 for a hotel room, I would expect more than just a nice/clean room.
Over the past several months, I've stayed at quite a few upscale Hyatt's around the world, and I can unequivocally say that the Hyatt Regency Madeleine is not worth that much money. When I'm paying $300+ for a room, I'm expecting something special -
Examples:
Grand Hyatt Hong Kong - nice room with a fantastic view of the Victoria Harbor. The view at night itself warrants the additional $$. Furthermore, the lobby is absolutely awesome. It also has a huge outdoor pool with a view of Kowloon and Central. DVD player in the room. Awesome Regency Club. And finally, the availability of several fine restaurants is yet another plus. This hotel certainly deserves the "Grand" in its name.
Park Hyatt Tokyo - spacious room with a great view of the Tokyo skyline (the huge windows allow you to see the Tokyo Tower, the Meiji Shrine, and Mount Fuji on a clear day). Having a meal at the New York Grill was an amazing experience. The staff were extremely polite and courteous - I really felt that everybody was going out of his/her way to make my stay as pleasant as possible. Nice pool/gym on the 45th(?) floor, and again, with a view of the city.
Grand Hyatt Shanghai - looking at the Bund from 80 floors up was quite an experience. Inside the hotel, looking down (or up) 30 floors at the atrium was yet another experience. The 3-level massage from the shower was cool. The pool/spa area is something that you don't want to miss. Oh yeah, an awesome Regency Club.
The examples from above are just some of the "specials" that I'm referring to. Madeleine has nothing other than a nice/clean room. It has a small gym (no pool) but it's at the basement; only 1 restaurant that doesn't seem too attractive; location is pretty close to some of the major tourist areas in Paris (Louvre, Place de la Concorde, Opera, etc.), but it's certainly not in a "prime" location; no views - even with a room facing the street, what's there to see? A few pedestrians and some cars passing by? Or the ugly building across the street? The area around the hotel feels dead... The staff did nothing other than checking me in and out of my room (in contrast to Park Hyatt Tokyo, whose staff walked me to my room and showed me all of the various gadgets - light and automatic curtain switches, shower massage functions, laser disc player, etc.). No separate bath and shower. There's not even a drive way - if you arrive by car, you'll have to park next to the curb.
All in all, Madeleine is a decent place to stay but not worth the $300-$400. I'm not familiar with hotels in Paris, but for that amount of money, I'm sure you can find another hotel that's better. Take your money and spend it at any of the hotels that I mentioned above. You won't regret it.