We are going to visit New York and would love some ideas on the better areas to stay (overall) and value for money hotels to stay at. Any ideas?

If you plan on seeing any theater at night, midtown is a great area to stay in because you can walk back to your hotel and don't have to worry about transportation. It's also close to some of the major tourist sights -- Rockefeller Center, Museum of Modern Art, etc.

In terms of value for money, it depends on how much you want to spend. My favorite hotel in midtown under $150 is the Hotel Edison. Obviously it's not the Plaza or the Waldorf, but it's a great budget option in a very good location.

Value is relative in NYC. Anything under $150 - $175 per night is considered moderate but in the $110 - $150 range the pickings are slimmer. If you venture below that price range the few offerings may be far off the beaten track and/or unacceptable by most people's standards (the exception being rooms in older hotels that have a shared bath and are therefore much cheaper). If you're there as a tourist the most convenient locations are from the 30's to the 50's between 3rd Avenue and 8th Avenue. It's lots of ground to cover. In the lower price range I'd investigate the following: Hotel New Yorker, Radio City Apartments, the Wolcott, the Grand Union, the Portland Square and the Gramercy. Other folks are likely to have many good suggestions but I encourage you to use the search function of this forum and study a bit first to define your needs more specifically and target the question at a limted number of facilities.

No matter where you stay ask for a room on an upper floor, the lower floors can be very noisy! I had this problem at the Edison.

Doubletree Guest Suites in Times Square was very satisfactory and good location for getting around the city. They do have a website with pictures and all the particulars.