I like the Trafalgar and the Waldorf but both are pricey and require a lot of points now due to the deval last year.
Trafalgar's location is great. No lounge, but they use to provide a great breakfast to diamonds but that is no longer the case.
I like the location of the Waldorf as well, especially being so close to the Picadally line for LHR access and a lot of theaters. The lounge breakfast is only so/so but I like the free alcohol and hot appetizers from 6 to 8.
The Waldorf wasn't able to upgrade me my first three nights (they offered to the other two nights but wasn't up for moving rooms for two nights) but gave me free room service since they couldn't upgrade me^^^^ My flight was severely delayed and I didn't get to the hotel until after 11 p.m. and had to be up at 4:45 the next morning so I really appreciated the free room service