I suppose it's personal preferance if you'll be disappointed or not.
We have stayed at DLH once, 7 years ago and are going back in a few weeks

We loved the DLH, closeness to the parks, hot breakfast and beautiful surroundings meeting with characters.
We have stayed at Hotel New York 3 times and loved it each time. The breakfast is similar, with hot items, but not quite as luxurious. The Manhattan restaurant is lovely and breakfast in there is really good. The Parkside Diner is less informal, but just as good. We met characters each morning in the lobby, though not as many as in the DLH - there tends to be 2 that alternate each day, but never any large queues. The rooms are large and airy, with same services/amenities as DLH just different decor. The swimming pool is large, and has an outdoor section in the summer which was just wonderful. Tennis courts are good too.
It's a pleasant stroll through Disney Village each day, but no matter how short in the mornings it does take it's toll at the end of an exhausting day!
If money was not object, i'd be honest and say that we'd go for DLH purely on location - but HNY comes a very close second. It's more affordable for us, staff are lovely and we have loved every vist there. I can't fault it at all.
Good luck deciding
