There is really nothing in the immediate area of the Sheraton Roma. It is on the far north end of EUR, bounded on two sides by major roads and to the north by a large hill where the local police station is located. Having a car, or using taxis/metro/shuttle bus is really essential to maing this location work.
If one walks up the hill about 10-15 minutes, one can reach a mixed residential/business neighborhood. The nearest restaurants in this direction are another 15 minutes or so north on viale Marconi, close to St Paul's.
If one walks south, towards EUR, the metro station is about 1 km away. Another 1 km up a very large hill takes one into the heart of EUR, where there are many restaurants.
Walking towards the metro station and then turning west, one goes down a hill towards the via Ostiense. There are several restaurants in both directions, but be advised that this is a very busy roadway which can be quite dangerous for pedestrians.
I've never walked to the east because of the danger in crossing the major roadways there, but having driven in that direction there are several restaurants on the via Laurentina to the east of Via Cristoforo Colombo.
These areas are typical Rome...not too great, not too seedy. viale Marconi and via Cristoforo Colombo, to the north, is a hot-spot for "night-time commerce" activity....but so is the via Veneto.
Haven't stayed at the 4Points West, so I can't give you a direct comparison. I have stayed at the Roma with my family and not been worried about safety. morpheus' and marlin's descriptions are right on - for the price, this is a good property...recently renovated, nice facilities, functional if somehwat smallish rooms (typical for Europe). If my company is paying - I stay at the Excelsior. If it's my money, we stay at the Sheraton.