First of all, the only part of NYC that you see on the ride is the NYC side of the George Washington Bridge. Otherwise, the course takes you through New Jersey and Rockland County NY.
The Good:
1. The course itself is beautiful, but if you think that the course takes you around Central Park and/or Manhattan, you'll be disappointed (although you can choose to ride through NYC on your way to the GWB for the start of the ride).
2.Almost all of the intersections are blocked off by the local police so you just ride on through which is great.
3. Rest areas are well organized and well stocked.
4. The Jerseys are great (tip: order a size larger than what you normally wear-Europeans I guess are smaller folk or they like tighter clothing)
The Bad:
Last year, the ride ended on the NJ side of the Hudson River with no transportation back to NYC- so you had to ride your bike back. Midtown Manhattan was where the post ride buffet/party/awards ceremony was. I hope they change this for 2012.