Vin,
As Joe says, Kutshers is still open but it's not the same as it was in it's heyday. The dining room service is now run by a third party, the entertainment not quite so grand as it once was and it's doubtful you will see many (if any) famous faces vacationing there any more.
The condition of the buildings is becoming an issue at this point also. With fewer guests there's very little money available for the massive upkeep needed just to stay open. General condition looks to be rundown and nearing the point where it's still viable to throw money into it. It's now owned by Capelli Assoc, the same people who own the Concord and the G so I don't think Kutshers will be around for many more years.
One bright point I can add, my last visit to the now closed Nevele showed some promise for a new hotel that has opened right next door. Several of the Neveles old "dormitories have been completely refurbished along with new construction of other buildings. Honors Haven
http://www.honorshaven.com/ is open for business and it looked quite busy. I asked the security people at the gate what was going to be done with the Nevele tower and according to them it was all going to be renovated starting this year.