Great hotel, old feel
The Drake is in a perfect location. It's right at the top of the Mile and close to incredible shopping and many great restaurants. For a surprisingly low cost, you can get a really nice room at the hotel. 
The hotel is about a five minute walk from the nearest subway stop. The room has a good supply of tea and coffee and has an alarm clock radio which can connect to a device with audio output, such as a laptop or an iPod, though the sound quality is like you're listening to poor quality alarm clock radio. The rooms are large and there is pleanty of storage space. 
The views (from the third floor at least) are nice, but not spectacular. There's a rooftop immediately to the north of the hotel which you get to see a lot of. The cleaning staff did an ok job in the room, not always restocking bath supplies and coffee/tea. 
The lounge bar at the Drake, the Coq d'Or, is very expensive. I enjoy a glass of scotch and at this bar you can get a two ounce scotch for a little less than just buying a bottle at the liquor store. However, if you bought your own at the liquor store you wouldn't be enjoying it at such a famous bar. 
All-in-all staying at the Drake was a great experience that I enjoyed doing one time, but in the future I'll probalby look to spend my money elsewhere.