I've stayed at the Tarntawan, Pinnacle and Le Residence. For the budget traveller, consider the new gay guesthouse Om Yim Lodge on Naratiwat Rd adjacent to the Chong Nonsi BTS. Rooms 650-900 baht. Everything is new and works. Wi-fi, room safes and A/C. Big plus is location. Right next to BTS so getting around Bangkok is very convenient. The negatives are no lift, a breakfeast that truly sucks and being on a major traffic artery (Naratiwat) with it's noise 16 hours a day (ask for a backside room). It's about a 10 minute walk to the Tarntawan and the bars in the neighborhood of the Tawan.
http://www.omyimgroup.com/omyimhome.html