stayed in macdonnell a few years back. abit old (the furnitures, e.g. sofa was sagging).. they might have renovated that place i am not sure.
the proximity to MTR is abit of a myth. straight distance yes, you can easily walk down the hill to HSBC building but going back up will be quite tedious. the route to walk up is also not clear, i.e. you have to zigzag across several different roads/paths to get back up. chances are you'd end up taking the bus (12M i think) or taxi.
but i agree its a much nicer environment than CWB.
p.s. i typed 'they might have renovated that place' but posted on the forum i am seeing two 'might's