Off topic but the last time I was in Penang I stayed at the old E&O hotel before it was closed and redone. That ranks as one of the more memorable hotel stays I've had: the highlight was the bar with high-back leather seats and 100-years of tobacco smoke ingrained everywhere. Man, I'll tell you, hard to find hotels like that anymore <sigh>.
I've stayed at the Mutiara (a long time ago) and I thought then it was a little far at the at of the Ferringhi beach. We were at the mercy of whatever creative taxi fare that was dreamt up on the spot. Nice hotel though: separate shower/bath and great beach views. The plus point then I thought was that the beaches were more private.