I'm doing my 8th this year. All of the problems of the past have been ironed out. Last year three of us were in the first group of 11k and with two longish rest stops, we finished before noon.
I like going a day early to enjoy the city but avoid Times Square. However if it's your first time in NY, you really have to see it as well as Rockefeller Center. Also
walking over the Brooklyn Bridge
should be on your list of things to do. The Williamsburgh Bridge is also a treat to walk across. A visit to West Village, Central Park or the Bowery should be on your short list. a visit to the
Tenement Museum in Lower Manhattan could be the best $20 you spend.
During the ride you can set your own pace. There are a lot of bikes for sure, but the streets are also very wide. I have seen people go down, but just like with most car accidents, speed is usually the root cause. A couple have mentioned riding the bike paths of the city, but it's not the same. Riding the closed to traffic main streets, avenues, bridges and expressways of the Five Boroughs at 12-15 MPH is a really great way to see New York. We usually reward ourselves near the end of the ride with a NY style pizza. When you try one for the first time you very well could realize that it's really the best pizza. I have heard a couple of reasons, the water, the flour to name two. Whatever the reason, NY pizza is very very good.
I stay and park my car in Staten Island. There is a free ferry that runs often to the city every half hour or so. Because the ride ends in Staten Island, I can pack up my car and immediately begin the five hour drive home.
The Five Boroughs (and five bridges) is a great ride and I highly recommend it. If you can still register.