I wrote a review in August 2002 about the salesperson who greeted me by name on my second visit - hadn't been back to New York until March 2005, and when I saw him then he not only remembered my name, but remembered what I had bought and asked if I still was enjoying it!
There are indeed ridiculously expensive items (tables of $300 ties and $1200 sweaters), but they carry a selection of the regular Ralph Lauren and have a house brand that's not much more expensive. Most importantly, the staff treat you the same whether you're buying a $75 Polo shirt you could get a Macy's, or a $5,000 cashmere overcoat.
Pros: Excellent selection, Unusual brands
Cons: very expensive