In Copacabana you should try the Grande Hotel Canada on Avenide N.S. de Copacabana. 40 USD gets you a good Carioca breakfast and a Holiday Inn style room. I've stayed there 3 times now.
I don't know what they want for NYE though. The expensive places are the beachfront spots because of the fireworks at midnight. This place is one block back from the beach.
[This message has been edited by Carioca Canuck (edited 12-07-2000).]