My 12 yr old son and I stayed at the Morgan Hotel for 9 nights during the Olympics. We had an apartment on the 2nd floor for 6 nights and a hotel room for the last 3 nights. The apartment was fantastic - it really is an apartment with full size bathroom, separate shower and tub, large mirror etc. There is a separate toliet room. It has a large bedroom, perfect for us with double and single beds, and a large living room with couch, chair, good size TV and small dining table and chairs. The pictures on the website don't do justice to the actual size of the apartment. The "kitchen" is very small, but usable with sink, small fridge, microwave, dishes, and cabinet. Worth every bit of the 190 pounds a night. The hotel room we had to change to was very small as are all rooms in London. (made our reserv. a year ahead but only 6 nights in apt available!) Bathroom still good size but very little room around the bed, and only one small chair. Small TV high in corner of room. Doable for 3 nights, would have been very hard for nine.
The owners here cannot be beat for their service and assistance. For our first trip to London we so appreciated having them answer questions etc rather than being in a "no host" apt somewhere. The breakfast was great. John took our order each day and everything was quick and delicious. Many choices, yogurt, fruit, cereal, juices, to go along with your hot order.
I'd advise using Russel Square, rather than Holborn for tube to/from Heathrow as there is a elevator rather than all stairs. Try to arrive/depart midday.
Overall, great location. Near tube on Central line. Near grocery store. Just around corner from British Museum. Wish we could return soon!