Good value, poor location
I recently stayed at the Four Points by Sheraton in Taipei for 3 nights. Overall, it is a lovely hotel with everything you'd expect of a Sheraton, but the location is only convenient if you are working in the Chung Ho neighbourhood - NOT for sight-seeing or leisure travel.
I was pleased with my room which had a king-size bed, work desk, TV and a modern bathroom. Internet access is free in deluxe rooms (even if you don't sign up for SPG rewards) so it's a good choice for business trips. The room was bright and clean and definitely a bargain at about 3,000 Taiwan dollars per night.
The hotel also has a very nice health club with a sauna, hot tub and work out equipment. There isn't a pool though.
I will definitely stay here again if I have meetings in the area, but the distance from the train and downtown makes it inconvenient to enjoy the sights and food of the city.