Location wise, I think SCRIBE is hard to beat. It's close to Opera, Madelaine, and fantastic shopping. Place Vendome is 2 minute walk. The facade is undergoing renovation at the moment, so it's a bit messy - although they put a giant screen covering the facade work and it looks quite nice. I heard the rooms are being renovated, but not sure if they're finished yet.

SOFITEL Le Faubourg is quite nice, as well, but it is very close to the US Embassy, which means cars are not allowed (a hassle if you have lots of luggage). It is across the street from BUDDHA BAR, if you're into those kind of places and down the block from HERMES and the shops at rue St Honore. Stayed there in 2000.

And as most European hotels, room sizes vary greatly -- if you book the lowest rate, you might get a tiny tiny room.