I guess I should close the loop on my own post.
The Sheraton Park is a renovation of the Coast hotel (so a remodel, not a brand new hotel).
We definitely enjoyed our stay (the 3 days we were there). The only drawback was we were required to stay in a first floor room (as opposed to the special lounge floor room I had booked) because we travelled with our dog (the site says it is a pet friendly hotel--turns out anyone with pets is only allowed on the first floor). So we were a bit miffed we didn't get the Disney View room on a high floor that we had reserved but the club lounge access definitely made up for it with the free continental breakfast each morning (which saved us time as we rushed to get over to the park well before opening!).
The staff and management was exceedingly helpful and friendly. Our only real complaint was the bathtub drain in our first floor room kept clogging. They sent a technician over right away, but it clogged again shortly after that. I'm assuming they inherited plumbing issues from the Coast hotel while in transition
In any case, the continental breakfast was quite a spread, with fruits, cereals, breads, eggs, yogurt, coffee/tea and an assortment of beverages. We found the room to be clean, aside from the construction going on outside. The fitness center was still under construction (adjacent to the nice pool area).
The hotel will allow late checkout as well, which is helpful if you want to stay at the parks a bit longer during the lunch hour and then go back to check your bags before leaving.
Also, the ART shuttle picks up right in front of the hotel (you can also buy tickets there). We bought 2 day passes and found it to be very convenient in the terrible heat wave we found ourselves in later in the first week of July. We would've walked if the weather was cooler as the hotel is only 2 city blocks or so from the park, but don't let it fool you...the walk is still a good distance to the park gates (which we wouldn't attempt in the heat), so budget at least 15 minutes at a good pace.
All in all, we'd consider the Sheraton Park for our next stay. Either there or the Anaheim Hilton directly across from it (which is also pet-friendly).