Which room did you book and which upgrade did you receive?
Booked standard room and got King Premium Cannery Row Balcony with fireplace (more than 1 category upgrade, hard to tell with all the categories but it was nice upgrade from standard room)

How are the rooms?
Very spacious, almost junior suite size with the fireplace and sitting area, balcony was nice to have even though the area was dead (early january right before all the storms)
Fireplace was nice addition given the rain and humidity
Surprisingly fun zen garden on desk so you can rake away the stress
Large bathroom with separate shower and tub

How is the exec. lounge?
N/A

What was good and what was bad?
Good
I have to say I was concerned about IHG One benefits recognition at this hotel given past reports but those were misplaced. Everything went flawlessly at check-in, they did mention they are more strict given that this is the 2nd smallest IC (Is Lyon the smallest?) and they have limited suites that are usually booked.

Got vouchers for DIamond breakfast at the C restaurant which lets you order anything off the menu and non-alcoholic drinks with tax and gratuity included. The breakfast was of very good quality with a lot of choices ($18-22 per main so nice benefit) and you are sitting right on Monterey Bay. Hard to beat

Service was excellent throughout the hotel, we had dinner one night at the restaurant and were very happy with our meal.

Bad
Nothing really, a bit pricey but what isn't in this part of California
Weather was awful and town shut down at 9PM but that is not IHG's fault!

Value for $ or Priority Club Points? Would you return?
Will certainly return if we are in the area, good place to get some spend as the restaurant is very good and my wife said the spa was fantastic!