Depends on what you're looking for and how much you want to spend
Of course, the Delano is beautiful... and expensive. I prefer to just go there for sushi and drinks at night.
A friend of mine owns The President and The Penguin (one is on 14th and Collins and the other is 14th and Ocean Drive). They are fairly small, but clean and great location.
Love South Beach!!!
Cheers!
Shannon G