Hi
A gang of us were in Edinburgh in November for the weekend to take in a few matches. Beautiful, compact, historic, and hilly (in the old town).
Reminded me of Paris I have to say !!
Stayed in the Radisson SAS at a brilliant location on the Royal Mile - perfect as a base for walking the city. Picked it as it was a 4* in a good location with pool etc. However, if going again would probably stay in the 3* Ibis around the corner for half the price ! The rate we got in the Radisson was 130 GBP for a twin room including breakfast.
I used the forum at Tripadvisor.com for info which was brilliant with lots of very helpful and friendly posters. You can check out reviews of the hotel and others there which I found very useful.
I am not sure if I would put the Raddison in the 'treat yourself' category.
For that price there must be better 4* star hotels in the city.
Timewise, it really depends how much you want to see. But there are some great websites with recommended itinaries for different lengths of stay - do a google. I recall that
www.visitscotland.com is one.
There are also the usual hop on / off bus tours which are handy for getting one's bearings !!