I spent five nights at the Independence Hotel in January 2013, traveling with five others. We occupied three 'Sea Pavilion' rooms, and nobody in out party had any complaints whatsoever about the hotel. The service was impeccable, the rooms large, new, and well-appointed, and the location of the hotel couldn't be better. The private shoreline (beach and rock pools) is quiet, secluded, and spectacularly beautiful.
The hotel is some distance from the main tourist areas of Sihanoukville, so if you like the bustle of the main tourist beaches or are visiting for the town's nightlife, then this may not be the place for you. The hotel does, however, offer a free shuttle service to and from the tourist areas (I think it runs six or seven times a day in each direction) and a tuk-tuk ride costs $4-$5 each way and take 10 - 15 minutes.
I have spent a lot of time in Cambodia and stayed in many hotels (including four others in Sihanoukville.) So far, I haven't come across a better hotel than the Independence.More