Great hotel, unmatched location
The milford seems to just have gone (and presently going) a millionaire renovation project. The rooms we small (and that is to be expected in NYC), but the furniture was arranged accordingly to maximize the space in the room. The bathroom was spacious and we didn't feel like we were inside of a tuna can throughout our stay. The hotel has a great location, the front desk staff was somewhat friendly - sometimes I can't tell if they have the never-ending bad mood attitude of most new yorkers or if they were downright unwilling to be polite. 
You can tell the renovation is a rush process, the bathroom doors, and most of the paint work was badly done, grotesque thick layers or paint slapped everywhere, curtains to separate some areas of the room, and wallpaper to disguise what lies underneath the room paint. But overall I can't stay I was dissatisfied, these are just cosmetic issues I have noticed that do not impact my stay.
The thing about staying at the milford is location, location, location. You are right there a block from times square and right in the middle of broadway, so forget hauling cabs, you can absolutely walk anywhere in the area - and we did. We enjoyed our stay, housekeeping was great, we found our room to be mostly clean (except under the bed and furniture were we found lots of little wrappers and some soda cans --- we wouldn't have found if my iPhone didn't fall). I would recommend if money isn't an issue and you would like to stay downtown, but there are better options out there, do your research, I think you can something more to say than "the location was great", a hotel experience should be memorable, not insignificant.