I've never been before 1/1 so I can't help you there. However, I can tell you that the crowds thin out RIGHT after the first (at least they did in 2000, 2001, and 2002). CMs I've talked to suggested that people tend to blow all their money NYE, then have to leave! But it can get very cold, and hats and gloves are expensive there, so bring clothes for all types of weather.