Offwego, it's interesting that your impression of NYU was similar to mine. I also had my mitral valve repaired by Dr. Colvin in 2005. I had an echo done while I was still in the hospital which showed that the valve was severely leaking after surgery-- but I was not told about the results of that echo until 3 weeks later, when my cardio (also at NYU) got back from vacation and got his hands on my test results!
At that point, I was told that I would definitely need another surgery within the next 2 to 4 years. However, subsequent echos have showed that there is only a mild leak now, and I feel great, so the repair seems to be holding up so far (fingers crossed and knock on wood). I'm only 33, so I'm hoping I can squeeze a few more years out of this repair. Did the doctors ever give you an explanation for why your repair failed?
In any case, I wouldn't go back to NYU for another surgery-- partly because I no longer live in NYC, but also because I wasn't pleased with my experience there. Best of luck with your second surgery-- keep us updated.