Monte Carlo wouldn't be a great choice for what you are looking in my eyes. I stayed at Cap Ferrat a few years ago and over all liked it. As it wasn't high season they even were generous with upgrades. It's a very nice hotel. This said especially during high season prices are far from any reality if you ask me. Same with restaurants, parking etc. But this problem isn't exclusive to Cap Ferrat IMO, whole Cote d'Azur is overpriced. So I guess if you like to be in the region at this time it's a good choice.
Regarding room I stayed in a Pinewood Suite, can't judge about the rooms.