We had a really good stay at Erato. We had the chance to stay in a room with a sea view which I think made our stay there very enjoyable. The room was cleaned every day and the facilities and pool area as a whole were great and very well kept.
You should know there is no parking there, however we managed to find free parking very easily just up the hill. Definitely consider a car to get around the island when you stay for more than a couple of days. Although not in the main towns of Fira and Oia (though Fira is in perfectly reasonable walking distance), it definitely looked the best of the hotels we saw in the area and is really worth a stay.