I just returned from a 5 night stay here and want to echo all of the previous comments.

Transportation was quite easy from the airport thanks to the AirportLink train. I arrived early and was given a room on the 28th floor with a bridge view (I would call it a partial view). It looks like there were only 2-3 per floor with views of the bridge or opera house, thanks to what looks to be an office building in the way. I thought the room was a bit on the small side, but definitely adequate. It did, however, have a giant 50+" TV mounted on the wall.

The CL was great. The first time we walked on the staff immediately greeted us "Oh you must be just arriving", whipped out a map and went into a spiel on what we should to do and the best places to visit. He told us to talk to him at breakfast and before dinner each day for recommendations on what to do, where to eat, etc. Now that is service! ^ As others pointed out, the lounge was crowded but the staff always kept the food refilled up until the very last minute. I slept in a few days so it was nice to know that I could have my pick of breakfast at 10:25am. The evenings featured free liquor/beer/wine and several choices of food which ranged in quality. Two of the nights it was almost enough for dinner, but others I found myself leaving with only a roll. Overall GREAT lounge!

As far as the location, you are definitely very close to the Rocks, Circular Quay and the Opera House, but I did end up walking toward the city center / darling harbor area on several occasions to find more restaurants. It might have had to do with restaurants being closed for public holidays though.

The only slightly sour note from the stay was that I used the in room wifi on two occasions not realizing that it was not free outside of the US. I had just downloaded a few e-mails, literally on my way to the CL (which has free wi-fi) . No way I would have even paid a dollar for that.. I thought I was ok reading the announcement that free internet would be worldwide starting 2011, but missed the Jan 7 note. I mentioned it to the front desk agent when I checked out, and she said "oh, that is effective today, you missed it by a few days". I thought about it pushing it further but felt silly arguing a $50 bill for 5 nights in peak season which included breakfast and drinks.

Overall this was a great stay, and I would highly recommend the hotel. Also, rooms were $600 AUD when I was there, so at 120k points for 5 nights this was by far my best use of points.