Andrew, there is a very large Casino/Hotel complex on the Canadian side that's fairly new, and it has a very good view of the Falls. I think it would rank right up there with any of the finest Las Vegas Hotels. It's within walking distance to everything, and offers it's guests all the amenities you could ask for. I'm guessing it would have a 4 or 5 star rating.
Unfortunately, I can't remember its name. I bet RickZ would, but he's in-transit from Texax as we speak.