Good hotel in extremely touristic Fisherman's Wharf
SF in general is highly sophisticated, bourgeois, and very european. Fisherman's wharf is neither sophisticated nor bourgeois, but very european : you continentals, imagine the Brighton Pier before it burned and you got it (for the Brits : Blackpool, rather) 
The Argonaut hotel is Sanfranciscan : sophisticated, bourgeois, European. Built inside the Cannery, it has the European old buildings charm, and disappointments : no view, small bedrooms. The furniture is nice although a bit too "Martha's Vineyard" to me. We stayed one night, didn't have time to try the wine testing which looked very friendly (too much to do in SF !!), just had dinner and breakfast at the restaurant (Blue Mermaid) which was ok. BTW, I read a French guy's comment that "there is no more cook at 11 PM". Man, you should know that in the US they eat from 5 to 7 PM. Ask for a dinner in Paris at 3 AM and wait for the answer...
All in all, a nice hotel, (expensive but this is SF !), not situated in my favorite area of this beautiful city, but extremely convenient for tourists. I recommand it for those who want : the cable cars without 3 hours wait (the line starts here-arrive very early), the views to the Golden Gate in the distance, and of course, the sea lions at Pier 39 (arrive very early too). Direct access to the famous Russian Hill streets ("like in Bullit") and Columbus that brings you (20 min by foot) to the Italian quarter and mythical Chinatown.
And it's true that the valet is expensive and not very efficient - expect 20 mins wait time, but they tell you so when you arrive, therefore you can take your decision. WIFI free for those who take the membership (free). Good "concierge list" of the Napa and Sonoma Valleys wineries complimentary in your room.