I actually just took the subway over to check this place out in response to this thread. Some cons for Ace Hotel:

* The wifi might be free, but you need a passcode. Do you get this by ordering something?

* The prices are pretty exorbitant. Coffee, tea, and sodas are $4, and $20 for a glass of wine.

* Pretty dark inside. OK for working on a laptop, not so good for writing anything by hand.