Stayed here for 3 nights though it would have only been one had we not upgraded. My wife booked on the Starwood website and we got a got deal it was around 11000 yen for one night.
When we checked in we were assigned a room on the 8th floor, which was only about the 3rd floor of guest rooms, I'm always wary when I get a low floor! The room was horrible, like something from the 80's, you could see the base of the bed and all its stains and the walls were yellowing. One word sums it up - Depressing.
I popped up to a higher floor to have a look and the corridor was much more modern and a different colour scheme so we requested a room on a higher floor - we had to pay a bit more but only a 1000 yen which is about $10.
The renovated room was lovely, what you expect from Sheraton, modern clean, large room, bed was huge, flatscreen TV etc. It probably seemed even nicer than it was to us as we'd come from such a crap room it was a real relief!!
The bathroom wasn't as nice and wasn't that dissimilar to the unrenovated room.
One small point, if you need to sleep/rest during the day for some reason ask for a room that doesn't face the main road (odd numbers I think), traffic noise wasn't bad but there is a really loud annoying pedestrian crossing beeping every few minutes, though they seem to switch it off after 7 ish so its fine at night.
Location is ok but your better off around the Namba station area if your a tourist I think. There was a great restaurant in the basement of this hotel, Japanese, its the last one facing the subway entrance end of the corridor, extensive menu (English menu) and very well priced.
Overall pretty good hotel but ESSENTIAL to go for the renovated room.