From my personal experience, my wife and I went there for New Years Eve... and I HATED it, well, most of it. We stayed in Times Square at the Marriott, which was crowded as can be. Days before New Years it was tolerable...(I hate crowds and most people in general).
I'm not sure how this will be taken, but, I mean no disrespect to anyone in LE, but the NYCPD were nothing but kids. They were so disrespectful and acted like nothing but *******s. We were 10 feet away from the ball when it dropped, and our hotel was about 40 yards from where we were standing, and some young idiotic kid tried to tell me I would have to walk 6 blocks with my pregnant wife to get into the hotel. He put up a barricade in front of my wife and hit her in the stomach several times not caring she was there at all. Well, that didn't fly with me... I just used my 280lb frame and made the boy move and pushed the barricade over and walked to my hotel.
Good luck if you go, it's crowded, annoying, and the cops are idiots. The food is good and the cheesecake is the best I've ever had. Lego Land and the wax museum were really cool.