I stayed in a "superior" room at the Metro on Pitt for a week at the start of June 06.
I was impressed with the location - only a few blocks from Darling harbour, Pitt Street Mall China town and Hyde Park - albeit all in different directions! It's also right on the Monorail line. At AU$ 120 per night, you can't get a much better spot.
The room was nicely sized for a mid range hotel, and very clean. Bed was comfortable. Bathroom was shower only, but it was a nice large walk in shower, with good pressure and plenty of hot water. Internet connection is available in all the rooms (at extra cost - less than 10 AU$ per day) and worked reliably. Reception staff were helpful and polite.
The hotel does have its own restaurant, but with the number of other options in the area I never got around to trying it.
The only slight drawback is that the street outside can be quite noisy - as noted earlier the Monorail is there (and starts at 6.30am), but it's also one of the main roads into the central business district. If you are a light sleeper it would be advisable to ask for a room away from the street (most of them are). I didn't have a problem with the noise level in a street facing room, but I am sure that some people will.
Also note that Metro is part of a chain, and there are two of them on Pitt Street - Metro on Pitt and Metro Central - which can cause confusion if you are using taxis or airport shuttles!
Overall a nice mid range hotel, very good value for the level of accomodation in this location











