We had a wonderful stay at the Gritti Palace. There are very few sights throughout the world that cause me to catch my breath. Walking thru the cool interior out onto the deck on the Grand Canal with the water sparkling in the sun did so. Irrespective of room, you will have a great stay here by spending time on the deck watching the Venetian world go by. Starwood did plats a great favor by giving us the alternative of breakfast. Breakfast on the deck (and indeed breakfast on the rooftop of the Danieli) is one of the great experiences in the Starwood world.
I used extra SPG points to book the best room available with points. Hotel staff generously upgraded us still further. This is a property that pays attention to those with status. However, be aware that any room I have been in to date requires standing in order to see the canal. Windows are set high. As it is a historic property this cannot be changed. I love their choice of Acqua di Parma as their toiletries. It says luxury to me, in keeping with the true luxury of the hotel.
We arrived via the train station with light luggage, so took boat 1 down the canal to the Giglio stop. We booked the water taxi to the airport when we left so that we could linger over breakfast as long as possible. We were able to charge the water taxi to our room. Service for everything was impeccable.