We recently stayed in the Argonaut. The hotel itself is very well presented and very clean and the staff were friendly. Wine receptions (free) between 5 and 6 each night are a bonus.
The area is a very mixed bag. The Argonaut is right at the end of Fisherman's Wharf, away from the most tacky excesses of the area, but close enough to sample if you were minded to. We walked through it to get to the Blue and Gold Cruise departure point for the 1 hour bay cruise. It's quite simple really, if you want Fishermans Wharf, turn right out of the front door - if you don't, turn left and you wouldn't even know it existed.
Our room had a view of the bay and the Golden Gate Bridge, the park and (obscured view of) the cable car turnaround. It was across the way from Ghiradelli Square where there are a number of good restaurants as well as the ubiquitous chocolate shop and cafe.
The building itself used to be the old Del Monte cannery, and the rest of the site has also been transformed for leisure/shopping/dining. There is also a nautical museum within the hotel, and the gubbins of the cable car operating system is a short walk away.
You need to walk two short blocks to pick up the number 30 bus that will take you through Chinatown (5 mins) to Union Square (10 - 15 mins depending on how many Chinese people embark going through Chinatown

) and beyond. A Muni pass is very good value and covers the cable cars as well. You can also pick another bus up here in the opposite direction for the Palace of the Fine Arts, Golden Gate Park and the Exploratorium.
Personally, I found the Argonaut's location to be much more peaceful than Union Square but was really pleased I'd not picked one of the bigger chain's Fisherman's Wharf locations - smack bang in the middle of the tacky bit.
Regards
Pat