This place is not as bad as some make it out to be, but one comment below that really resonates with me is the "I've had better experiences at 2-star hotels" post. I think overall it's OK at the Regency. The lobby is the best and worst thing about this location at the same time. It has an interesting decor which is a good first impression. But that sets the wrong impression. The rooms are just OK. A bit dated despite the nice plasma TV, but one bed was ridiculously soft. Thank goodness I was alone in my room and could choose the better one. Bathroom was good enough, water was hot, I had enough towels which were clean.
My main beef here was the internet service. It was quite poor. I called front desk one night because I was so frustrated (I was traveling on business and couldn't Skype with my family because of the bad connection). I was told that I was using the wrong wireless connection that I should come down from the 3rd floor to the lobby, that there was nothing they could do. Disappointing.
As for the restaurant, wasn't bad but too expensive. May as well go to the nearby IHOP or Latin Cafe for something better with more quantity and a little more affordable.
Apart from that it was enough for my needs. Won't be my first choice for next time in Miami but if it's my only reasonable option I won't fuss too much about it. Because of the internet probably wouldn't choose to come back here for business.