A great place if you can get it for a good deal... Don't spend alot thinking you will get a truly amazing hotel.
Wife & I stayed here over a weekend in late September. I'm alway a little skittish using Hotwire, not knowing where you'll end up, but it got me this 4-star hotel at the last minute for $83/nt + tax, fees = $95/nt. This is the off-season, so I don't know how realistic this is other times of the year. Sheraton's website listed the room for $119, so we got a decent deal. I believe this Sheraton is the only 4-star rated hotel in Myrtle Beach, so if you see a 4-star on Hotwire or Priceline, it's most likely this place.
The hotel lives up to the 4-star rating, although it's slighlty leans to 3.5 more than 4.5. Rooms were nicely furnished, granite countertop in bath, leather chair, small loveseat. Bed was excellent, extremely comfy with down mattress topper and comforter and high-end pillows. A few things are starting to show a little age, with a small stain in the carpet, a knick here or there, but overall it was clean and comfortable. I'd like a better TV than the 24" in the room, but I'd probably give it too much attention.

I don't like getting charged for little things, and that's where the hotel kindof gets you. Parking is $5/day, local calls are charged, and room service is quite expensive. The room service was very good however, in their defense. Internet service is $10/day in the room, however, you can get free wireless service in the lobby and bar area, which were nice areas in themselves.

You also have to realize the hotel is not on the beach, it's not really within walking distance either, considering you'd probably have a bunch of beach stuff to carry. They did say they would allow us to use their airport shuttle to go to the beach, but we never got around to using that. The indoor pool and hot tub is nice, but kids would probably get bored quickly with plain, rectangular pool. Myrtle beach has so many other hotels with pools, lazy rivers, etc., that kids would be more interested in. Gym is nice but I didn't get my lazy butt in there, but there are LCD TV's on the bikes and treadmills.

Service was quite good, they got me in my preferred room type (king, nonsmoking) despite the fact that Hotwire got me a smoking room.

Overall, If I'd spent $150 or $200/nt, I would have felt a little slighted, but if you can get in for $125 or less, I don't think you'll won't be disappointed.

We stayed here for 2 days right after Labor Day. The hotel is nice but starting to look old & run down in the main areas of the hotel. The rooms are nicely decorated and the beds and pillows are very comfortable. The pool, hot tub & fitness room were all average.
The bartender at the bar was very apathetic and didn't want to leave his watching a ball game on TV to wait on us.
The hotel is NOT very far from the beach. It is a nice 5 minute walk, which we walked several times.
Parking is $5 per day or $10 per day for valet. I should have paid for the valet parking as the walk through the parking garage and parking the car there is not fun.
I would stay here again if I got the same deal, but would look elsewhere first.