The "57 reasons" really boil down to commercialism, materialism, (where New York is thought to be the current capital of both) and the issue with Babylon being described as a port city but not even being a city at all right now in Iraq. We have been discussing these items and more over on a thread at RITAN this past week that you might find interesting regarding this topic and why it's not a good idea to read current geopolitical and social circumstances into Bible prophecy:
I find no issue with the port requirement or that there is no city yet. Just look at Dubai and how fast and magnificent it was built. If there is enough money flowing, anything is possible. Also, there will be a global earthquake or earthquakes at the beginning of the Tribulation that may just change the landscape that could bring the Persian Gulf closer to Babylon, if Babylon doesn't sprawl to the Persian Gulf. God can change things on a dime.
It is my opinion, being a "type" of Babylon, with her sins reaching Heaven as they are, that New York will cease to exist early on and play little to no roll in the rest of the Tribulation.
Amy Van Gerpen
Bill Griese (14 Dec 2011)
"2nd Reply to Amy VanGerden"
P.S. 57 Reasons Why Iraq Can't Be Mystery Babylon: http://aoreport.com/ao/prophecy-studies-mainmenu-47/65-57-reasons-why-iraq-cant-be-mystery-babylon