We really enjoyed our stay at SLS. Albeit small, it had everything you'd want: a club, a casino, and a good number of inexpensive or higher end restaurants on the premises.
The room themselves are small and probably more of a 3.5/5 star rating. The restroom is also pretty plain/small - however, the overall feel of the room felt updated/modern/contemporary and we enjoyed it.
The restaurants here were fantastic - we dined at 3 different places and enjoyed them all. The club is pretty good, and reminds me of a simpler but more spacious version of Light/Hakkasan.
Overall, I think it's worth checking out, especially if the price is a good value. Just slightly off the trip, but just a short cab ride away!