Thanks for the input. There is a lot to consider here. I'm still wavering on just booking a Hotwire 4* hotel for ~$140USD per night in what seems like a decent part of London for touristy stuff. I think it is likely the Melia White House.
Do any hotels in the UK have free wireless Internet, or do they all charge like 20£ a day? (which is enough to buy a month's worth of DSL service in the states...)