London Update: Not Exactly Swinging Again, But. . . Paris is on strike. And Christmas in the Middle East looks less than peaceful. The Caribbean is still suffering from hurricaine hotel shortages. So what about London? Not a bad idea for this year. Yes, darkness starts falling around three p.m., and the skies can be grey. But the average daytime temperature can reach 55 F, and it's not as damp as one might think. The grass in the parks is always green, and right now, the Pound is running at a tolerable $1.55 or so. London is still expensive, and even the well-heeled visitor has to do some homework to get good value and quality in terms of lodging and dining. But things are improving. Two hotels which, though far from bargains, really give you a truly high-quality experience are The Athenaeum and The Four Seasons, London. The Athenaeum sits near the bottom (Hyde Park Corner end) of Piccadilly, just west of the original Hard Rock Cafe. Outside, it looks like one of those modern, depressing British office blocks. Inside, you'll find one of the best-run and most delightful boutique hotels in town. The reason is the relatively new management team, headed by Jonathan Stapleton and Sally Bulloch. They have turned this former "Rank" dullard into a charming, clubby bon vivant. The 111 g uestroom, 12 suites, and 33 apartments are decorated in My Fair Lady style; traditional, a tad frilly, and totally inviting. While some bathrooms are small, there's no problem with the plumbing. Most American five-star resorts don't have water pressure this good! There are also CD and Video players (guests can "borrow" tapes and recordings at no charge), modern phones (no gouging on credit card calls to anywhere), and bedside lighting controls. Downstairs, guests have a lounge for light meals, tea, or whatever, that's open around the clock. There's a small but high-quality fitness center, and several meeting rooms. The main restaurant, Bullochs, named for Sally herself (you'll see why when you stay here), features modern British cuisine (venison and pheasant in the winter) and whimsical decor. If date and toffee pudding is on the menu, don't skip dessert. The adjacent Malt Whiskey Bar is one of London's hot spots. It feat ures over 50 fine Scot ches, and the mixologist makes a textbook perfect whiskey sour. What makes this place truly special is Sally and her team. Sally Bulloch is a former actress, former nanny to Peter Cook' family, and just about everything else. She's one part Louisa from The Dutchess of Duke Street, one part Hollywood press agent (her half brother is in the business), and one part favorite aunt. If there's anything you want or don't want, just give her a call. When you become a regular, she'll invite you to her cocktail hours. The Hall Porters are up on what's really going on, and wil l never steer you, except away from mediocre food and entertainment. The Athenaeum is featuring special frozen U.S. dollar rates through April, 1996. Rooms start at $225 plus VAT. At these rates, you would do well to splurge on a Parkview Suite or one bedroom apartment; both are under $400. This hotel loves Americans. And you'll be sure to fall under its eccentric and efficient spell. Call 1-800 335-3300 or FAX 1-800-335-3200. Also impressively well-run, if less intimate is the nearby Four Seasons. The former Inn On The Park has a handsome lobby, and several inviting dining and lounge areas. We stayed in a refurbished room which had comfortable, if somewhat standard, quality decor. One nice touch was a pair of cushy "rocking" armchairs. The bathroom was spacious, marbled, and had good plumbing. (The reason we stress the water pressure comes from some less-than-gra nd experiences at London classics like The Ritz). Try and get a room with a park view. Otherwise, it can be a tad gloomy. The Four Seasons Restaurant has a new Chef de Cuisine, Jean Christophe Novelli. While we did not sample his cooking, word is that his creations are worth the extravagance. What we did sample was the Autumn Seasonal tea, complete with coconut scones and homemade passionfruit preserves. It was superb, as were the simple but delicious and graciously served late night sandwiches we had after a dinner party proved less than satisfying. As with the Athenaeum, service is what truly makes the difference. Shirts are laundered, bags are brought and picked up, and requests are granted -- all promptly and cheefully -- even at five a.m.! We asked the doorman about the white towels and silver pitcher full of ice water. "It's for the returning joggers," he replied, as though this was the most standard of amenities. This leap year, The Four Seasons London is having its own sort of Sadie Hawkins event. The first female guest to pop the question to her gentleman friend gets a complimentary weekend to return with her Mother to plan the wedding. If help is needed, Chef Novelli has a special dessert to win the day. And men who wish to have a private tailor visit can now do so with a call to the front desk. Savile Row's Chester Barrie will come to the hotel for all the selections and fitti ngs. Rooms start at around $375 plus V.A.T., but most American travel agents can probably do a bit better. Call 0171-499-0888 direct, or 800-332-3442 for information. This year's restaurant byword is "Mega." Terence Conran is at it again, this time with a gargantuan place called Mezzo in the heart of Soho. Upstairs is a lively, smokey bar and casual dining area. Downstairs is a fairly expensive, more formal restaurant. The cuisine and decor is California Brit. Think Spago with Elton John or Rod Stewart in charge. We didn't dine here because our London source told us that the quality was more miss than h it. Much better in terms of food is the Criterion Brasserie adjacent to the theatre of the same name in Piccadilly Circus. This formerly gloomy then shuttered dining hall has been polished to the nines, including a dazzling Byzantine tile ceiling. The menu is the creation of Uber Bad Boy Chef Marco Pierre White, and the wine list is pleasantly eclectic (selections from South America, California, and New Zealand. Our service was pokey, but when the food arrived, we be came instantly forgiving. Wonderful squi d ink risotto, tagliarini with langoustines, and wonderful duck. Desserts were rich and nicely presented. You can dine well here for under $100 for two, including wine and service. A London miracle. Pricier but quite good is Stephen Bull's latest, Fulham Road Restaurant. The decor is New York Upper East Side modern, and the cuisine is more British than international. Again, game is the entree of choice, although we were pleasantly surprised by a rich lobster cappucino cup of bisque. Prices are almost on par with places like Tante Claire if you have more than two courses. Wines are expensive, but you can get a decent Rhone or Clare t (Bordeaux) or under $25. In the trendy Convent Garden area, Eutens, a recently opened West Indian cafe is a spicy respite at decent, though not truly bargain prices. The limited menu sounds a bit dull (Mixed Fish Brochettes with Rice and Tomato Confit), but they don't stint with the peppers. They've started a set lunch for around $8 U.S.. We found the service to be friendly but extremely slow. Still, this is a good place for a pre or post theatre meal, and we suspect that the bar scene is a good one. Two other good theatreland choices are The Ivy, hidden away in a cul-du-Sac on West Street, and Cafe Fish on Panton Street, off the Haymarket. The Ivy serves classic English fare with a flair -- wonderful Belgian Endive salad with mustard dressing, followed by roast breast of pheasant with baby Brussel Sprouts and chestnuts. There's potted shrimp and bubble and squeak for those who want to carry traditional all the way. Cafe Fish is a breezy, casual seafood restaurant where nearly everything is good, in cluding the prices. Note: almost all London restaurants accept a wide variety of credit cards. This is still the best way to pay, because you get a lower rate when you're billed. Finally, British Airways is still the best way to fly to London, especially in the winter, when they offer some great fares and packages. We did not have the chance to try the new Club World seats, but what we did find in Club was extremely comfortable none the less. The new seats will not only have extra lumbar padding, but head cushions which adjust for neck support and sleeping. The footrests will also be improved. First Class passengers will have sleeper seats with priva cy islands, something akin t o a deluxe Pullman train. What is already in place in both classes of service are individual video screens with a wide range of entertainment choices, toiletries which include items designed to combat in-flight dryness and discomfort, and "Raid the Larder" snacks and cold drinks available to passengers throughout the flight. Food could still use some improvement, even in Club. But what really makes the difference in all classes is the effici ent and friendly staff, both aloft and on the ground. We couldn't h ave been happier. And everything on both of our planes was spotlessly clean. Bravo British Airways!