Interesting question - I had this same choice to make earlier this year while on business in NYC for several months. I ended up choosing quality - the Regent - over points... and do not regret the choice, even though I passed up on many tens of thousands of hotel points. In some cases the experience of the service offered in true "quality" hotels far outweighs the benefit of points in improving your immediate quality of life.

Go for quality!

-Zombie-