We loved the old style hotel, heritage staircase, big hallways etc. Being greeted by concierge in a top hat, and another taking our bags up to our room while we checked in - definitely great service. All the staff were consistently friendly and helpful.
The room - it was fine for a girl's weekend in Melbourne, and was a reasonable size with high ceilings. The strangest thing was the opaque windows, so we couldn't tell if it was raining (this WAS Melbourne). However we soon found that the best way to gauge the rain was to listen to the drainpipe that seemed to empty onto a metal surface right outside our bathroom (opaque) window. Does it sound like someone is having a shower in the bathroom? yes = it's pouring. Does it sound like someone is having a shower in the next room? yes = it's lightly raining. The first night was a terrible storm, and my roomies had trouble sleeping due to the waterfall outside our window. Luckily I always wear ear plugs in hotels, so I was fine.
The decor and facilities seemed a little tired... I think they could really update this hotel in period style to be something quite impressive (but with mod-cons).
We got a great deal online - if we'd paid true 5-star prices, it would not have been value for money.