Yes, you are smack in the middle of a lot major tourist sites: Place de la Concorde, the Louvre, Musee d'Orsay, Tuileries Garden, and a short walk to the Champs Elysee. The Eiffel Tower, Arc de Triomphe, and Notre Dame are walkable (but a little far). Hey Paris is big, you can't be near everything.
The service here was good, and quickly resolved some billing issues that we had, while being quite pleasant. The rooms are clean and generous, although it seemed our room was scheduled to be cleaned a little later in the afternoon.
My only real complaint is the neighborhood dining, catering to upscale shoppers and tourists, the restaurants and cafes are generally expensive with mediocre food. We found ourselves on treks to Marais, the Latin Quarter, and the 6th arrondissement to find places with better/cheaper food, and less of a homogenous feel.
If you're in Paris to see the sights, this is the place. If you're there for gastronomic adventure, you might want to consider another neighborhood.