My answer is a cautious yes, but with containment strategies. Plan your trip the night before, screenshot the schedule, and set an alarm for the last train home. Assume nothing, verify everything.
And if you do end up stranded—like I almost was in Queens—embrace the absurdity. Watch the sunrise from a bench. Chat with that one other guy waiting for the same ghost train. New Year’s Day is a weird, beautiful limbo, and the trains running (or not running) are just part of the story. Just don’t forget your gloves. You’ll thank me later.