Well, I did end up doing the late night arrival stay. As far as I could tell, it looked like any Four Points property, even down to the color of the carpet.
I suspect with being SPG Gold I received a "preferred" room in that I might have received a remodeled room (according to Four Points standards I suspect). The room itself was certainly not old-looking.
It is obvious it wasn't a new hotel (after all it was a Morgan Hotel. It even appeared that way on the expense report), the hallway looked like a mix of new and old, and the sign for Four Points was not evident throughout the hotel.
But it was a satisfactory stay for an overnighter, and the price wasn't that bad on the corporate rate.