It's too bad, but I see why they are not doing so well although the food is pretty good. In my mind, all the complaints people have made in this thread add up to this result in the end. It just isn't a place I would go to very often. We recently found a great new Italian place in the West 50s--Aroma Trattoria-- and I was thinking of Romeo's when we were there--how much more attentive and professional the service is at Aroma, how much nicer the atmosphere in a way that is hard to define. It's not stuffy and has a warmth that makes you want to become a regular.
I am always struck by the contrast between the sparse crowd at Romeo's and the bustling business across the street at Farine's. What Farine's has done is amazing. It's not the same kind of "fine dining" experience--but have you ordered the meals there, not just the pastry? The food is excellent, very high-end. And the crowd is constant and very diverse--it's attracting a cross-section of the neighborhood.
We order delivery from them sometimes--actually the food is delicious, but I'd often rather have it at home where I can have wine with dinner, and not sit in their glass-wall, kind of cold setting. Last night, through some confusing mixup, they wound up bringing us double what we ordered--they forgot one item and instead of just bringing that, they brought an entire duplicate order. So we had six meals instead of three! Sometimes they are disorganized, but they're very nice, and anyway, I am amazed at the crowds in that place. It is possible to succeed as a restaurant here, evidently. Although you never know--so many places in the city that were always crowded have closed because even with steady business the financial pressures are great.