I stayed at the Travelodge Wynyard on York Street. It was well located for the Rocks, the Bridge, the Opera House, Darling Harbour and the monorail.
Although it was reasonable priced, I felt it was very basic. This suited us at the time, as were were spending two days in the Blue Mountains and I didn't want tp pay to retain a room in an expensive hotel for two night I wasn't using. This was part of a larger trip, so the basic room didn't borther us as we were only there for a week in total.
However, on departure, I was handed a bill for use of the internet in my room, via a laptop I don't possess, and for white wine from the mini-bar which my wife and I never drink. They cut these from the bill when I complained and pointed out I wasn't carrying a laptop, but they didn't seem to happy about it.
I would have taken it further if my transport to the airport hadn't been waiting for me, as I suspected the internet may have been used by someone else whil we were away at the Blue Mountains.
So, if it's a reasonbably priced, well located hotel you want, it's worth considering. Just be sure to keep tabs on everything you use and check your bill when leaving.