Just completed a very recent one night stay at the Trump. I'd echo what's been said here and what I've always believed about the hotel--the hard product is stunning, and the service is very, very good, with a couple of small but irritating issues.
I was in a Grand Deluxe Lake View room. To put it simply, it's just gorgeous. For the price ($400 through FHR), you get about twice the space as you would at any other top-tier Chicago hotel, the kitchen, and the full-front lake view. My critiques are the same as I believe I've written before on here. The bath, while good, is not quite as deep or wide as it should be for the overall quality of the hotel. Same goes for the Trump toiletries. They're actually quite nice, but they really should be Asprey or Bvlgari, in keeping with trends at other really great hotels.
The spa and fitness facility is unsurpassed.
The service is very good, but not great. I would personally take a room double the size with a proper bathroom at the Trump over what, say, half the room at the Ritz with marginally better service. Obviously this is personal preference, but we were so comfortable in our room that the little service flaws--the desk not communicating a specific cleaning time to housekeeping, the less than overly friendly bellmen--weren't a big enough deal to deter me from the phenomenal product they're able to offer.