That hugely overrated and everytime I have stayed there I've had a nightmare. Plus it's full of old fogies, might be a good shout if you are one!
I would recommend the Hotel Elysee which is midtown as well. Plus it has the fabulous monkey bar - ahhhh happy memories
Regardless of the hotel though, midtown is a great location for bimbling around everywhere in Manhattan. And to be honest if you're having a proper NYC holiday you probably won't spend much time in the room!