Yeah, definitely take the subway if you're not walking. You'll beat a cab most of the time (especially if you go crosstown). The NY subway is one of the best in the world. Cabbing is only worth it late at night.
But again, take it from someone who lived there for almost a decade... walk as much as you can. There's a lot of cool stuff in NY that you don't see from any tour bus. Walk a lot and I guarantee you will have a more authentic experience.
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