Join Date: May 2002
Location: Pittsburgh
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Posts: 31,678
Sheraton is certainly closer to the historic heart of the city, but a $7 (iirc) cab ride for 4 was a fine trade-off for us for the shopping, food, safety, etc., around MF. Sheraton's about a mile from Plaza Mayor.
The Free Walking Tour in Lima was a good one (as was Cusco) - expect to pay a "voluntary" fee/tip at the end, but still worth it.