I got there after it started and managed to find "good seats" close to the stage. It can get pretty cramped closer to the stage, but honestly...you can find a good spot. It's pretty lax. Most people are there on their lunch break.
Broadwayfan7...it's located right along 42nd between Grand Central and New Amsterdam Theater...but closer to Grand Central. It's right behind the New York Public Library. Bryantpark.org for exact address.
"We like to snark around here. Sometimes we actually talk about theater...but we try not to let that get in our way." - dramamama611