I just stayed at the HR Hakone, here are my observations:

• Volcanic action completely overrated. The hotel is quite far from Mt. Hakone. That said, there are tourist areas that are closed off.
• The common areas in the hotel are quite nice. The onsen area is decent, the dining areas are beautiful. The food is comparable to the Tokyo-area hotels.
• The rooms themselves are a little dated. For example, they use physical keys, and furnishings show the wear and tear of a hotel that's been around for a while.
• I drove (the hotel has free parking), but there are shuttles
• The hotel is quite far from the station area, and there isn't much to do in the area without a car
• When in doubt, email the concierge. Super helpful staff and top notch service.
• Hotel does a lot right - diamond breakfast is great (Japanese breakfast or buffet like the PH Tokyo), happy hour w/ free cocktails

Let me know if you have any questions. I enjoyed my stay there and would go back again.