I stayed there in January for four nights. It was right after the big Apple conference so I used an SPG50 and paid $144.50/night (vs. $219, or $350+ at the other SF city properties). A few thoughts:
1. If you use an SPG50, you'll have to wait and ask SPG to load in the points - the front desk confused it with cash and points and didn't post the stay.
2. It's a lowrise like everything else in the area.
3. It's better than a 4P, probably in the 40% percentile of US Sheraton properties. Not a horror show by any means.
4. It's very convenient for inexpensively getting into the tourist areas, as the F Muni goes right by the hotel on its way into the city (it drops off a block away) and goes along the Embarcadero to Market Street.
5. The Club breakfast was pretty good, but the location is odd (in a big hallway area)
6. Walgreens and Safeway nearby for snacks, and In and Out for your burger fix!!
7. The Holiday Inn down the street has free wireless, if you only want a few minutes worth, go to the hotel's Denny's and order a cup of coffee.