I had a stay here booked with a co-worker, but ultimately cancelled. It may not be an "official" policy, but I was specifically told that the best upgrade I would receive as an ambassador elite guest was a premier times square view (essentially same as standard room but towards the top of the building). My coworker ended up in a times square view room (same layout as standard but on the middle floors), and it was fine, but far too small for me for anything other than sleeping. Since I was going to be working from the room most of one day, I cancelled after I heard the upgrade news and booked the Ritz Carlton (where I was upgraded to a huge Avenue Suite).

We had drinks at the hotel one night, and as others have said, the bar area and lounge were great. It was pretty crowded, but service and drinks were very good. I don't know that I'll ever stay here knowing that a 250 sq ft room is the best I can hope for at $300+/night, but I could see it being a good option for someone that needs to be close by, won't spend a ton of time in the room and wants a time square area hotel with a good bar/lounge setup. I didn't explore the room in great detail, but I don't know that my wife and I could comfortably fit in the room with all our stuff on a longer stay.