Today of course it is all redeveloped but still with an agreeable air of the honky tonk or whatever...
Most popular place that I could see was Madame Tussauds, where throngs waited to get in.
As to redevelopment of the are, from the internet (article in NY Times a year ago):
Richard Perry/The New York Times
Published: December 3, 2010
Next month, 11 Times Square, a new, glassy 40-story office tower at 42nd Street and Eighth Avenue, will formally open with its first tenant. Compared with the metamorphosis that has occurred around it, there is nothing extraordinary about the building except for this: Its completion officially marks the end of the long and tortuous redevelopment of Times Square, an effort that began 30 years ago.
Readers shared their thoughts on this article.
It embodied both the hubris of urban master planning and its possibilities, and showed the value of ripping up blueprints and starting over in midstream. And it has been a touchstone experience for a city that is now building, or trying to build, several multibillion-dollar projects, including ground zero, the Atlantic Yards, Willets Point and the Hudson Yards.