Have recently stayed at both hotels. Both are good and each have different points in their favor. Sheraton is, as your point value ratio suggests, a more upscale, full service hotel with better finish, better rooms for upgrades, better recreation facilities, more in hotel restaurant options, etc. etc. One drawback in my mind is a slightly more isolated location, but only slightly. Both hotles are close to each other, and about the same time/distance from airport.

For a one night stay Four Points has the advantage of being in the center of a lively restaurant/nite club area and close to shopping, public transport, etc.

Both hotels are reasonable with platimun benefits and late checkout, etc.

Assuming equal award point costs at each hotel, my inclination would be to go with the somewhat more upscale Sheraton. As you suggest it is more hotel for the points. However, given the short stay duration, there isn't really, IMHO, all that much difference between the two that either alternative would be a mistake.

Enjoy your stay