N751PR, I feel your pain. I'm generally very loyal to *wood as I too lack status with any other hotel. All I can say is that for me in this particular case, Plat treatment, a nicely renovated room and the points didn't even come close to making up for the extra 1-2 hours of travel a day necessitated by the location. Perhaps the travel would have made up for it if the location was far but at least interesting, but this one is perched a stone's throw away from a highway, a construction site, a Starbucks and a whole bunch of banks.
The station you mention is about 2km away and I don't remember the shuttle times (it might be worth a call or e-mail to the hotel as perhaps they've figured out a better transport option for their non-business guests as they had just opened when we were there).
I'd like to see you stay there so that we could compare notes, but honestly, I was much, much happier at the Hilton where I could explore the city for a few hours at a time and then return to the room to work-out, nap, relax by the pool and then head out to a nice dinner.
BTW, while the area is loaded with tourists, we really enjoyed the roof-top restaurants in the Old City where the views are breathtaking -- some offer simultaneous views of the Blue Mosque, Aya Sofya and the Bosporus. That, coupled with sunset and the call to prayer made me remember why I like to travel. Even if the cabbies rip you off
Good luck. Let us know what you decide.