I know someone who went there; and he wasn't impressive at all. It seems to me like it's for rich middle-aged women. Lots of machines, lots of fancy design, DJ, steam-room.
From what I can tell, if you're not 45 and female, it's the metrosexual gym of NYC. I think it's about $1000 a year for a membership, although I could be wrong. I'm not sure anyone who's actually serious about training would go there instead of to Gold's or NY Athletic Clubs (where some fairly high level wrestlers and other athletes actually train, btw).