I love that hotel...I've been there "once" (a 5 night stay and a 1 night stay a few weeks later) and I have not been in a nicer hotel yet. In my opinion that hotel has everything...
Awesome view of the bridge; awesome view of the opera house; suites are very nice (come with a hot tub...at least mine did)

The people there are outstanding. Everyone is amazingly friendly and helpful. The concierge lounge is very good for breakfast and evening snacks...has complimentary alcohol and nice views.

As the previous poster mentioned, it's also in the middle of a lot of sights and things to do...You can walk over to The Rocks, climb the bridge (highly recommend!), go to the botanical gardens, go to the Opera House, walk over to the ferries and go to the Taronga Zoo or the Olympic park

I can't wait to go back to Sydney