I usually travel to NYC 4-5 times a year, working for the government doing network stuff - the WA has become my standard place to stay on the (paltry) government per diem ($199/night). The rooms are nicely furnished & well-supplied, everything seems to work in them (unlike other NYC hotel experiences). Best of all, there is free wi-fi access in the lobby. No joke - just drag your laptop down to the Park Ave. lobby (near the piano bar side, not the restaurant side), fire up the 'ol wifi and surf away.
A couple of years back, the WA used to be one of GSA's Federal Premier Properties listed on the GSA website at "http://www.hotelsatperdiem.com/index.asp?city=NYC" but no longer. However, they still honor a government rate at the Waldorf. Also remember you Federal travellers, to make sure you look over the bill at checkout, make sure you don't pay any state or fed tax on the stay.
I haven't eaten anything in any of the restaurants inside the WA, or tried room service (the per diem doesn't cover that kind of splurge).

Recommended: Yes