QUOTE(Turboguy @ Mar 21 2006, 12:44 AM)

I have spent a lot of time on Arabat and a lot of time in front of the Embassy as well as walking all around the area and the Embassy and I don't think the two are that close. I never tried walking from one to the other. I would say it is better to take the metro from Arabat.
I wouldn't worry too much about hotel locations. You shouldn't need to spend more than $10-15 for a cab from anyplace remotely close. You are only paying for this once. If you are comfortable with the metro and know the city, by all means, do that (with Moscow traffic it is probably faster).
Personally, I spend a lot of time in New York/Boston/London/other big cities. Cabs in Moscow are not any more expensive than other big cities, where I primarily take cabs as well. Any decent hotel will arrange a car and driver (or cab) with an up-front price (higher than you can get on your own, but generally fair).
If you only need to be in Moscow for less than 3 days, best advice is to stay with friends. (This is what my wife did for her interview. Added benefit of a physical wakeup call and moral support.). And buying dinner/drinks is your only expense.
Next best option is a western hotel. Expensive, but we are only talking about a few days here. (I spend a lot of time in hotels). In Moscow, I think the Metropol or Radisson SAS are good choices. Marriott will probably have the best discount if you are good at cutting deals. About $200/night is about the best deal you will get. I know that a lot of us are cost-sensitive here, but if it doesn't break the bank, this is not a bad choice. In general, hotels that cater to business customers are a million times better than ones that cater to tourists. They tend to have better locations as well.
Worst choice in my opinion is a hired apartment. You will pay as much as a mid-level hotel, need to check in or out at a specific time, location will be harder to find. There won't be room service, security, etc. If you are an American, you will have more complications with visa registration.
This is all based on my direct experience, and is only my opinion. For a 3-day stay in Moscow, expect a decent apartment downtown to be about 400USD, a hotel like the Metropol should be about 600 USD (after negotiating). Dinner and drinks for friends for 3 nights 200-600 USD (depending on your taste, but Moscow isn't exactly cheap. I'd end up spending more in London or NYC).
My wife stayed with friends and spent about $500 taking them out.