Since my wife is from Macau, I no longer stay in any of the hotels, but I will give reviews of those that I have stayed in. Agoda.com seems to be one of the best sources for Asian hotel reviews. Since it has been a while since I stayed in a Macau hotel, this may be a little out of date, but here is the list, roughly in order starting with the best.
MGM - This is where we stayed on our wedding night. We had already booked a nice room, but then we kept getting upgrades and ended up with a really nice one. I will have to double check and see if I can find the class of room we ended up with. We got married there, so they kept upgrading us - upgrade for our wedding day, upgrade for getting married in the MGM (and hosting a big dinner), upgrade since it was slow (in the middle of the week), and then by the time we checked in it was so late they gave us another upgrade since they had a better room available that wasn't going to be rented out that night. We ended up with a corner room overlooking Avenida Dr. Sun Yat Sen and the Outer Harbour. Since we were so high, and the road curves right as it gets to the MGM, it looked like the road went right under us. I will upload some pictures of the view and the room later.
Hotel Guia - I think they had three different types of rooms, and I had one of the mid-range ones. This was up close to the Monte Guia, and had a great view. It was also right on the Macau Gran Prix course, so if you want to spend 10 times what I did per night, stay there during the Gran Prix. I really liked this one, since it was a little away from the main tourist center, but also close to everything, if you don't mind a little walk that is. If you don't like walking, you won't like this location.
I don't remember what floor I was on, but I was in room 11 and that had a pretty good view. Room 9 is probably the best view, being on the corner facing downtown. If I remember correctly room 9 would also be the most expensive during the Macau Gran Prix since it has the best view of the course. I've included a picture of the floor plan for one of the floors.
Sintra - I stayed here on my last night of bachelorhood. This was about at a Holiday Inn level, maybe a little better. My parents stayed in a better room, and it was noticably nicer. This is really close to everything, so you don't have to go far for food that isn't Chinese.
Riviera - I am told this used to be a really nice hotel, and is even where heads of State would stay. We had one of the lower end rooms, and while it was ok, it felt like its best days were a few decades ago. It over looks Sai Van Lake, which is nice, and is between the historical center and the A-Ma Temple.
Agoda.com