I can offer two perspectives on this string:

1. I commute from downtown Seattle to the eastern suburbs every day (mostly to Issaquah, but often to Redmond) by express bus. The trip to Redmond takes about 45 minutes at peak times, 30 min. wo/traffic. I really like taking the bus -- it's cheap and I can get stuff done rather than pulling my hair out in traffic.
2. I've stayed at the Residence Inn at Redmond Town Center, if only for one night. I can see how it would be great for an extended stay, though. Not much doing in Redmond evenings/weekends (I do recommend the Thai place at RTC however.)

If it were up to me I'd stay at the W and take the bus to Redmond if it gets you to your gig.