I was just in the area and did a little trip report on the flight back home.

In general, I was impressed with the Sheraton Raleigh Hotel. It’s location is in downtown Raleigh so it's great if you are going to the Convention Center or the courthouse.
I called in a day before to secure an upgrade and got their executive suite on the 14th floor. This suite was basically two rooms converted into a suite where one room had a pullout sleeper couch, a second television and a dinner table and the other was a standard room.
The concierge lounge was decent and there was no charge for the beer and wine. The view is directly down upon some construction but you can see the Capital building from the lounge. The business center was also free for everyone, which allowed you to use the computer and printer for no charge. The gym wasn't great: it had one elliptical machine, two treadmills and two bikes. There was one nautilus type machine and free weights that only went up to 30 lbs. The pool looked big enough to do laps in but I forgot my trunks so I didn’t get full use of that.

A couple of annoyances, however:
There was no Wall Street Journal. As a financial analyst and a frequenter of Starwood properties, I was mighty perturbed about that.
The hotel is in the middle of an urban city so there are no real shopping opportunities in the area. You'll have to have a car or hail a cab.
For people going to the airport (RDU), you'll need to take a shared van called White Horse as the hotel doesn't provide the service and it costs $35 each way.
The doors don't provide much insulation as I could hear many of the conversations in the hall.

Aside from these small things, I would stay there again if I were in the area.