Positive report
Stayed at the Sheraton, Lima at the beginning of September. Arrived at LIM at 4:20am and took hotel car to the hotel, arriving at 5:30am. Even though I had called the hotel the day before asking about an early arrival (and was told that as long as there was availability there would be no problem), the young man at the front desk insisted on collecting an additional partial day rate. I told him in no uncertain terms that this was inappropriate, but later relented (although at check out, there was no additional charge).
Aside from a bit of consternation at checkin, the stay was great. Nice executive room (the 28 jr. suites have not been refurbished, and the 3 real suites were occupied). The club was superior, IMHO: very adequate breakfast and high tea. There was no problem with (or charge for) a very late checkout. I have no problem being in the historical/colonial section of Lima: it's a cheap and quick cab ride to San Isidro or Miraflores; it's a short walk to the very impressive Club Nacional.
Overall, a positive experience and good value--worth staying at, despite what some of the negative posts on previous threads would indicate.