Last time I was in Rome (early 2009), I stayed at the Villa Spalletti Trivelli, which fairly recently opened as a small luxury hotel. Terrific location atop the Quirinale, with very nice rooms, bathrooms, and rooms on the ground floor for the use of hotel guests (the library, drawing room, etc.) Until Rome gets a Four Seasons or other, larger, truly wonderful 5-star hotel, I think this is a somewhat nice option. Service is a bit on the light side--it seemed somewhat short staffed to me. But the villa is in spectacular condition, and the guest rooms are pristine, comfortable, and beautiful. See what you think:
http://www.villaspalletti.it/