Hi Sophie,
I had the same problem, was trying to plan for this new years as well, and finally changed the date because it was just ridiculous, I was looking at much worse hotels just to make it affordable, so I think it is sensible to change the date, you will get so much more for your money!
I went the other route, and pushed it out to 2008, but I think you could make it be earlier... what I would do is write a list of the people that are really important to me, and that I really really want to be there, and check with them that they could make it this summer... Then just let everyone else know and see who can and can't make it...
But yes, new years is NOT A GOOD TIME.