Just got back from a 2 night points stay.

A couple points

1. Take a taxi. The train to the tram to the walk/bus is a pain [see below].
2. Do not walk from the end of the tram to the hotel. I did it and it sucked. It's not too too far but it is a) not close, 2) not smooth so forget anything wheeled, and 3) after ~10 hours of flying, a short train ride and then a loooong standing jam packed tram ride with luggage, it is just easier to take a taxi. (and to sit rather than walk )
3. Too far from the sites - sort of. While Ortaköy is a nice area, it's only really good if you don't need to go to Old Town IST every day. A couple of days here and the rest of your trip elsewhere would make a nice stay. That being said...
4. Taxis aren't that expensive so it's just the traffic that is the problem.
5. Kumpir and Efes on a bench watching the sea
6. There was no upgrade for a Gold even though there was a Bosphorus room available. I did get breakfast which was good and on a deck overlooking the Bosphorus.
7. The hotel is a rectangle with one short short end facing the Bosphorus and one the street (a bit angled). My room had a view of the bridge which while neat - it really is neat watching the lights and drinking some Raki - a water view would have been nicer.
8. A decent amount of street noise but not too much. My room was on the end closest to the street and I slept well [and not entirely Raki and Efes induced].
9. The ice machines were non-functioning but a staff member saw me looking for ice and had it delivered in minutes. Generally, there was pretty good service throughout my stay.
10. Lots of food/drink options in the general vicinity of the hotel.

Would I stay again? Maybe. Ortaköy was good for 2 nights but I don't think it would be wise for a first timer to IST or for a longer stay. Last time was I was up in Taksim and that was great. Next time I might look to stay in Old Town - maybe the Doubletree.

PM if you'd like specifics that I didn't mention

Cheers