Tallboy, since you stated you prefered to stay in Ipanema or Leblon, here's a couple places that are very nice, but not on the main screen for some international travellers:
The Everest Park Hotel on Rua Maria Quiteria is smack up next to the Caesar Park, has only about 30 rooms, and all have balconies with a side view to the beach. Business oriented hotel, but they will give you a beach towel in the lobby and they have a tent on the beach that provides you with free chaises and umbrellas, as well as beach security. Included in your room rate is a HUGE breakfast buffet at the sister Everest Hotel around the corner, on their roof top. Nice hotel, and rates shouldn't be much more than $100.
The Mar Ipanema hotel is also in Ipanema, 2 blocks in from the beach on Rua Visconde de Piraja, the main shopping street. Romms aren't quite as nice as the Everest Park, but it's a bit bigger hotel, and they havea nice restaurant and a great location right down the street from Jewelry Row. They run specials pretty often, I've seen rates around $90 double.
A very nice place I stayed at in October of this year was the Ipanema Tower Residence. Ipanema Tower It is on the first street in from the beach, Prudente de Morais, and right close to the Caesar Park/Everest hotels. Modern highrise building maybe 15 years old, they rent 2 bedroom apartments for short term rental. The building has quite a few permanant residents, so it kinda feels like you are living their yourself. They also include a small breakfast buffet on the 15th floor with a great view of the beach from the balcony. All the units have 2 bedrooms, a nice living room, dining room, and fully equipped kitchen along witha private balcony with a pass-through bar from the kitchen (great for serving cocktails). The bathrooms are very nice, and have huge walk-in showers that have excellent water pressure. We got our apartment there in October for US$105 a night, which was a great deal.
Check out Ipanema.com for deals on all these hotels. I've worked with Juan costa at the affiliated travel agency, and he is very prompt in answering e-mails and can secure great rates at any property there.
Just to add to what has been said on their forum, Aporador is the only area in Rio where I have had attempts to relieve me of some of my posessions. The area attracts lots of youths because it is a surfers hangout, but a few youths seem to try to make easy pickings of locals and tourists alike. When travelling between Ipanema and Copa, I just spend the R$5 and take a cab.