Extremely comfortable, but a couple of odd moments
This was our first stay in the New York Palace, but I hope to make it another of our "regular" NYC hotels. 
I've NEVER had better service in ANY hotel I stayed in, EVER. ANYWHERE! Everyone was very attentive to our needs without being obsequious. (One of the servers in the conference center pushed the wheelchair of a colleague to a restaurant three blocks away!) 
The public areas of the hotel are beautiful and certainly palatial. 
The odd things? Our room was spacious and very comfortable -- and thank you for TWO club chairs (an increasingly uncommon feature of many hotels) -- but we were missing a bath mat and two of the hand towels were frayed along ALL FOUR edges. How could housekeeping NOT have noticed this? In addition, after cleaning the room, housekeeping did leave a bath mat but our washcloths were missing. It appears that housekeeping may either be understaffed or rushed, or both. 
Veteran travels will not roll their eyes and mutter "You were surprised by this?!?!" when they ready my next comment, but...
I was quite surprised to see SUCH an expensive menu at breakfast. $35 for a traditional egg meal, and $38 for a croissant and coffee! I normally avoid hotel restaurants because of the prices and, at times, less than stellar food, but this was well beyond what I expected. (We did find several delis within a couple of blocks making fresh breakfasts for a fraction of the Palace's prices.)
Will I stay there again? Absolutely.