I actually was trying to stay at their other hotel located off of the Sukhumvit train station, and in error booked this hotel. Never the less, this hotel has excellent rooms and service. It is about 2 blocks / 600feet (200 meters) from the main road which has many restaurants and shops, as well as the subway station.
Regarding Bangkok, it is a mad city, seemingly in complete "organized" caos. Somehow I was expecting a more organized city considering how wonderful Thai restaurants are in New York City. The people are very nice. One thing that you might find surprising is that Bangkok seems to atract a large number of "loser" westerners, who probably could not make it in their own country. It is not surprising to see over weight, 60 year old loser men with young, 20-25 year old women. No doubt it is a financial thing.
People tell me that Bangkok is not the place to really stay in but rather head south to Phuket or north to some of the jungle cities. Still, Bangkok does have much to see including various Budist temples, the Palace and I would recommend a boat ride along the river and perhaps visit the floating market.