As it happens I was here last week - my second stay here - and was very impressed.
The rooms here are generally small and often an odd shape. This time I got upgraded to a suite that had been redecorated and was nice, if a little eccentric. USB and power points by the bed, fantastic new and clean bathroom and the wifi was okay for me. I also got welcomed by a personalized message written in chocolate and a note from the GM, which was a nice surprise. Front desk was very cheerful and helpful. Breakfast was okay.
It's at the better end of the Four Points brand, certainly. FYI with Four Points you get 250 points on arrival not 500.
I think they've done as well as they could have with an awkward old building, and it's good value for Milan. Stayed at the Holiday Inn Garibaldi the next night which was inferior in every single respect.