I spent 3 weeks in and around Delhi in January 2010 so I am surprised to see that they haven't finished with Connaught place yet. The thing that made Delhi really crappy at that time is that the metro was under construction for the Commonwealth Games so traffic was ridiculous.
As far as the "wealthy areas". I went to them and stayed in them a couple of times. The houses are large and the ones I went in were of decent fit and finish but definitely below US standards. (Not saying there aren't houses built and furnished according to Western Luxury standards I just didn't go in any)
The rich areas are still kind of dusty and have people walking around from time to time yelling loudly to sell produce or other household goods.
__________________ <<<<< I'm loving this economic "recovery" >>>>>