Taipei resembles Tokyo (not a coincidence) in that the city layout doesn't have a definitive "center." Far Eastern Plaza is in the southern part of Taipei's traditional city proper and IMO is not ideally located for tourists, except for going to the zoo, Maokong tea estates, and Wulai hot springs area. National Palace Museum is in the far north part of the city and will be quite expensive to reach by taxi from Far Eastern Plaza. IMO a hotel like Regent Taipei is more centrally located for a wider array of activities, even though there isn't much to see in its immediate vicinity.