I took a view camera out on the streets of New York fairly regularly from about 1984-2001. Was never hassled by any cops, once or twice by a panhandler.
I did stay out of Times Square (and midtown in general). Things might be different now, but I wouldn't let it stop me from trying.
I grew up in NYC/Manhattan, and my experience is similar. I have used my 4x5 in Central Park (Belvedere Castle has some nice opportunities), in SOHO, down towards the lower tip in Battery Park, and around the South St. Seaport areas. But those are all far less trafficked than the midtown/Rockefeller Center area where I worked (except for SOHO, which has gentrified and is now crowded). My own opinion is that during the Christmas rush, the big camera is not going to be enjoyable or practical in midtown.
I wouldn't hesitate to take a hand held Speed Graphic a la Weegee, but a MF would be easier to move around with.
"I would feel more optimistic about a bright future for man if he spent less time proving that he can outwit Nature and more time tasting her sweetness and respecting her seniority"---EB White
Having visited NYC many times (and currently planning a trip for my son's birthday next month), I suggest going handheld. Sidewalks are just too crowded for tripods. Trying to use a tripod may trigger unwanted encounters with NY's finest, and is not likely to result in pictures that you are really happy with.
I've used LF in San Francisco with very mixed results. I also attempted it once in Boston and was very disappointed.
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