Recently stayed at the Palace (Club Grand Deluxe with Balcony). It was good. Very quiet and elegant. Club level includes Western or Japanese style breakfast, plus buffet. The rest of the day, the club pickings are on the slim side, however. We were on the 17th floor, facing the construction and you can't hear anything from that. I think the Japanese have certain customs and laws regarding construction noise. If you are eating breakfast around 8-9, you can see the workers do their morning group exercises, which is kind of fun. You won't hear construction noise, but you can definitely hear some of the traffic and sirens. More than I expected actually. You can see the Imperial Garden kind of from most of the rooms. But only the largest suites have direct views.

We also stayed at the Shangri-La (Horizon club level) and prefer that hotel over the Palace. Palace was a bit more expensive as well. Shangri-La gets points for: easier access to Tokyo Station (<1 block vs 4), higher rooms (less/no street noise + better view), better club level amenities/food (IMO). I prefer the service at SL as well although this is very subjective. Whenever I finished a drink or something, there was always an attendant asking if I would like another drink, etc. Palace staff seemed much more hands off, which may be a cultural difference, but I preferred the more attentive approach at Shangri-La. Staff spoke better English at Shangri-La as well, but I think that's because the SL staff is more international. All the Palace staff seemed 100% Japanese and they were all women for some reason. Palace has a better pool and exercise room though.