Perfect location, I mean REALLY perfect, much better than the area around the Duomo, many many really "local" places - restaraunts, bars (the one in Sheraton Diana is just amazing), shops and just 10 minutes on metro to Duomo. Clean and nice. REALLY nice hosts (Costanza and her husband) - they do everything to help you to get better feeling in Milano, thanks them a lot for their brilliant tips.
Small disadvantages - no elevator (4th floor) and some mess with the parking nearby - it has limited spaces and no english speaking personnel trying to park your car at the entrance without possibility to explain what are they doing :)
And don't forget to ask about how to switch on the hot water - it is not easy to find it by yourself ;)
In general - highly recommended!