I am traveling to New Orleans in January with a couple of my old college buddies. We are three men in our early 40's and would love some recommendations on a hotel. Staying in or near the French Quarter is definately a priority.

Ramada Inn on Bourbon - as the name states, it's located on Bourbon Street and is fairly centrally located in the Quarter. This is nice if you don't want to rent a car, most everything is within walking distance.
Rooms facing Bourbon Street are the most fun, but also means you'll get no sleep at night. We usually end up taking a nap during the day when it's a bit quieter so you can get some shut eye. Enjoy the city!

We usually stay at the Dauphine:

http://www.dauphineorleans.com/

It's in the Quarter, one block off Bourbon so it's quieter. Good staff, onsite parking

I second Dauphine. If you are going to NOLA then stay in the Quarter without a doubt. We had friends stay in a big chain recently. I want to say the Hyatt there. I can't remember. Anyway, they complained about it feeling too commercial. I don't think they will do NOLA again for a long time due to picking something that was more stale.

Of course I guess there are some of us that are into the experience of the trip rather than the motions. Is that making sense? I have in-laws that travel and check it off the list. But, never see anything. I think that is what my friends did.

Has anyone stayed at the Iberville Suites?

Yes! Gorgeous. Clean rooms. The staff is really nice. Not as pricey as a Ritz. But, just as nice.

You should also check out the Le Richielou (sp?). It is a nice small boutique hotel. Quiet, with an intimate bar and nice pool.

For my money, you can't beat the Montelone Hotel on Royal Street in the Quarter. I have been staying there since 1959 and I would not stay anywhere else.