I stayed there a couple of times between 2011 and 2015, the rooms were outdated then but nothing horrible... I hope the renovations are nice.
I just booked 2 nights there in November, at 270MYR++/night, it was hard to find a better deal, even at the LM or Aloft at KL Sentral. I never took the monorail from the Sheraton to Bukit Bintang area though, it will be a first.

My KL fav was the Westin, right opposite Pavilion and always upgraded to a Suite (that was SPG times though if I'm not wrong).