Stayed here only once but it was well worth the experience. I stayed in the Chrysler tower and I don't believe that I have had a more convenient stay at any other hotel. After the elevator trip down from the room, you can step out to an array of food choices in the New York area (clam chowder, fish n' chips, pizza, steak, italian...). You could also board on the roller coaster which is especially fun at night.
The location of NYNY may not be as desirable since it is pretty far from Bellagio, Caesars, and the Venetian but it is a cheaper alternative for those who want a better room at a lower price.