This is a great hotel. The location is a little far from the Bund, Nanjing road, and Xintiandi, but is still right in the middle Shanghai and within walking distance of plenty of restaurants, stores. A Shanghai underground station is less than a block away.
The service was excellent, especially the car/taxi service; the staff took time to find a driver who spoke some English so that his basic English and my basic Mandarin could combine to get me where I was going on time.
As a Japanese hotel chain, Okura hotels do of course have small rooms. Overall, though, it's a great hotel. I definitely recommend it.