Excellent Hotel; No Need to Go to Jimmy's (Except for the View)
Very interesting,well located, very clean -- in all, an excellent hotel.
I was in town for just 1 night for business; needed a place that was easy to get to and from in SoHo, and picked The James primarily because of location. 
I was impressed with the facility (minimalist design; original art by different artists displayed in the hallway of each floor; compact but very well-equipped exercise room), the staff and the guest rooms. Of course, the rooms were small, because of the location, but I have never been in a hotel room that was more well-designed (and I travel regularly for business and leisure in the USA and Europe). Room (including bathroom) was VERY clean. 
Did not eat there, but went to the roof-top bar "Jimmy's" (which I understand is owned by a separate group -- not the hotel). Unlike the hotel, it was pretentious and unimpressive. The bartender was rather full of himself and more interested in schmoozing the women at the bar than in providing good service. A weak selection of appetizers & spirits, in what should have been a much higher-end bar. 
The view, however, was spectacular. I suspect the Jimmy's experience would improve with good friends, and in the Spring-Fall (I was there 1/30-31) when you could use the roof-top deck. 
I would highly recommend The James; the Jimmy, not so much.