I have stayed at New York New York twice now, and the feel of it has significantly changed over the years. I first stayed here 10 years ago, and thought it was one of the nicer hotels on the strip at the time. When I recently visited, it felt so worn and outdated. It just hasn't aged well. Not only does New York New York feel old, but many of the surrounding hotels are newer or more recently renovated.
New York New York is an average place to stay at on the strip. It is a 'no frills' type of place, with not a lot of fun stuff to do and lacking in attractions. The best thing about New York New York is Zumanity, which is an awesome show! Besides a few places to eat and a fairly small casino, there are not that many fun things to do here. If you want a place on the strip to sleep at night, New York New York serves that purpose. If you want a happening place with lots going on, I would suggest looking elsewhere.