This is NYC - Location is EVERYTHING!!!
Stayed 3 nights during October.
Got a pretty small room on the 7th floor, but it was adequate to our needs. 
This place is great because of it's location. 100 yards away from times square. In NY, you can not ask more than that. 
Rooms are not fancy and decor is old and a bit run down. Service is also questionable. But nothing beats this amazing location. 
If you get a good price for this hotel - take it. 
Do yourself a favor - do NOT expect a first class hotel. Edison is not such and you don't pay for a first class hotel (You want to pay for a first class hotel + location? check the W next door). However, if you are in New York to tour the city and the hotel is mainly a place to sleep - Edison is excellent.