Great location and views
I stayed here in late May for a conference and enjoyed a very comfortable stay.Check in was flawless and staff were very friendly; as SPG gold I was offered a choice of rooms including club level. Though my room was not yet remodeled, it was still comfortable and had great city and lake views to the northeast. The only real disappointment was the quality of the food and service in the club lounge. It wasn't much different than the happy hour at Embassy Suites. This is the first hotel club level lounge where I've had to sign a tab just to partake of the complimentary snacks, with a strong push for tips. Wine and beer are available for a charge, but only on request -- none is set out. No liquor is available at all, so forget an evening cocktail. 
I usually partake in the SPG "green choice" initiative, but the one day I wanted my room serviced here, and so didn't put out the door hang tag, no service was provided. This is a newish program for SPG and it seems they still have kinks to work out. Though in general, I'd gladly earn a few points or the $5 voucher for skipping maid service most days. 
As others have noted, Shulla's steakhouse is very expensive and better meals can be had elsewhere in Chicago. The burger place on the lower (river) level looked great but was super crowded the day I tried to go, so passed it up. 
Wifi in my room worked just great, and is complimentary for SPG elite members.
In short, this is a great place to be for a meeting. The location is excellent for families and business travel, and the views can't be beat. Just don't expect anything terribly luxurious. And for those of you who complain about the parking charges -- welcome to Chicago :-) . No need for a car here anyway.