I had stayed at Sheraton during my first visit to Kuala Lumpur in 2005. This is a good hotel for business travellers as it has all the amenities like convention centre, business centre that is required for travellers not having any office in the city. I was there for only two days and hence spent most of time working only.
The best thing about the location of this hotel is its close proximity to Twin Towers. The twin towers are only at 10 minutes distance. One can also get a very good view of the twin towers and KL Minar from your room (but you have to ensure that you get a room that gives you this view at the time of check-in). The hotel is also located close to the major shopping areas in KL, so if one has time on hand, one can shop for all the latest electronic gadgets at the lowest price.
The rooms are not very expensive and the service is very good. One needs to be careful while settling bills as I got charged twice for my stay (I paid cash and they also charged my credit card) and I had to do some chasing with my bank back home to get the charges on card reversed.