Just got back from a 4 night stay. As noted in other reviews, the location is excellent. As a Gold member, I was upgraded to a "premium view" room which is essentially a high-floor room with a view of the Neptune fountains. I had room 629, and the view was very good. The double-glazed windows do keep out most of the noise, but the night after Spain beat Germany in the World Cup, I could hear the car horn honking around the Neptune fountain late into the night.
The room was good size, and I got my amenities of two bottles of water and a newspaper every day. There were apples available near the elevators every morning, too. Wi-fi was something like 13 Euros for 1 hour or 15 Euros for 24 hours. The service was good - never had to carry my luggage up any stairs, as somebody always ran up and took them for me. Everybody was polite and responsive.
There's a Starbucks and a VIPS around the corner. Both give you 45 minutes of free internet with purchase. VIPS is a cafe/snack shop, so if you don't feel like walking up to the Cortes Ingles, it's a good place to pick up beverages and snacks.
I watched the world cup in the hotel bar - one flat screen tv and really expensive drinks (10 Euros for an 8 ounce coke?!).