Great view, clean, agree with what has been said about the restaurant - very nice, including good breakfast. We stayed here in mid-February, 2006.
Issues:
1) This is on the main road, and that road traffic isn't what it was when the place was built in the ?1930's. You know the issue -- common in so many historical destinations. It is busy with tourist traffic and vehicles servicing the numerous hotels and businesses. There are also quite a few hotels up the hill, resulting in quite a bit of pedestrian traffic past our hotel, heading home from town center. Even in winter, the room was quite hot(no individual temp controls in rooms -- you are expected to open your windows/balcony doors). Would be same issue in summer. On a Friday and a Saturday night, there was traffic and loud pedestrian noise until 3 am+, and then the early am commercial traffic started about 6 am. No internal noise in the hotel -- nice insulation there.
2) If you are staying in Gridelwald, find out which side of the street your proposed hotel room is on -- I would go for one on the "Downhill" or "mountain" side of the main drag, so that the expensive view rooms are on the side of the building opposite the main street! Or, if facing the road, go for a place a bit further out of town than this. Or, book a less costly room with no moutain view, that doesn't face the main road -- and get out and see the scenery on foot.
3) We also found the proprietor to be rather cold,even selectively so to us, though we did not think we had given him a reason to be so. Maybe the "American" thing... At least the e-mail booking and correspondence with the hotel were very efficient and cordial.