Forget the points, etc, skip the St. Regis(it is not a fireworks hotel) and stay at the Hay Adams. The rooftop is one of the best views. check the special. It sells out.
Call for packages. The restaurant at the hotel Washington is another excellent place to view the fireworks.
The hilton embassy row has in the past had a 4th party on the rooftop.
Almost all restaurants other than hotel restaurants will be closed.
Traffic is impossible. Anything short of 100F and 80+% humidity is considered a Godsend.