I just got home today from my first trip to Buenos Aires. I stayed at the Hilton in Puerto Madero and it was great. Absolutely felt a sense of security when I crossed that street each day into Puerto Madero - the obvious police presence makes itself quite well-known.
That said, I didn't necessarily feel unsafe anywhere while I was in B.A.
I will say that a couple of places I had considered (Sheraton Convention and Libertador) were less appealing once I had seen their location in person relative to the Hilton.
Palermo was quite busy during the time I visited on Saturday night.
I tned to walk a lot and while I did take taxis a few times and the subte a few times, i mostly walked. It was not unreasonable for me to walk through Recoleta back to Puerto Madero - did it several times and the exercise was a great way to work off those steaks!
