I stay here every time I come to Panama as it is close to our office. Yes, it is out of town but taxi fares are not high and the view of the canal is wonderful, even for someone not interested in ships. Get a high floor with canal view and just watch the ships going into and out of Miraflores locks. Wonderful.
The rooms are reasonable with a good size and a comfortable bed. Wired internet is free and wifi (which can be a bit patchy at times) is also available. Clean and comfortable but some might find the airconditioning a bit noisy (I don't). The bar is a bit small and basic but the restuarant is quite good. Nice bar 50 yards away which does decent food as well.
The staff are extremely helpful and very cheerful. I like this hotel