I stayed at the lone pine in the end, quite happy - added a master thread and pictures here: Lone Pine, Penang, a Tribute Portfolio Resort [Master Thread] - FlyerTalk Forums
In short - good resort, still going through teething opening niggles I'd say, but a good option for a weekend by the beach. Fairly far from town (20 minutes) and the airport (1 hour), but close to the butterfly farm (Entopia, about 10 minutes) - but a stand-alone property in its own right.

Also whilst driving through town noticed the massive Marriott sign on a new development, that isn't yet open, but has a big sign and the building itself appears to have completed.