Arch 

To me, this looks improbable from the ground. But, once you are up there the climbing is really very easy. Keep you eyes out for pro, is kind of sparse, but, reasonable. It's not plug and play, but it's certainly not an R rated climb either. The exit moves out of the arch are fun and airy.

This isn't a great route for either new leaders or new followers - it traverses a lot in the first pitch, with large swings possible on either end of the rope. Also, this section of cliff has lots of loose rock on it - it's a good place to wear helmets, even on the ground.

There are a couple of spots on P1 where you simply can't fall - the holds and pro a both bad in some spots. Granted, the climbing is easy, but the rock is suspect. In addition, the first pitch traverses so much that its difficult to protect well and prevent rope drag. P2 is mediocre climbing at best. The route is contrived - loose holds, dirty climbing, excessive traversing and sketchy pro.

As gblauer says holds are there and protection is there - small cams and pink tricams sew it up pretty nicely. Rope drag can be avoided with extended slings. I would not give this climb 3 stars though - traverse was ok, I almost thought I missed the route and should have gone through the arch.

Could not find P2 - ended up on P2 of Wrist, which sweetened up the whole climb!

Not sure why the negative comments, I thought the climb was great. I lead it yesterday and it was a bit wet, but still very enjoyable. Good pro if you look for it. No drag with shoulder length runners and maybe a long one at the arete.
The very beginning of P1 is run out before your first piece of pro, but was good climbing. On P2 at the top I think I went off route and went straight up through a cracked roof with an old pin/ring. Fun, but I think that I didn't put enough slings there and had serious drag.
All in all, loved the climb and would do it again without hesitation and highly recommend it.

I actually linked most of P1 into the Billy Shears roof, which is def a 5.9 set of moves. With proper rope management, this was a fun alternate to going around the corner of the original Arch route. It was a little dirty in places, but that's trad climbing in the Gunks sometimes. P2 was fun and a bit airy. It traversed a bit, but the pro options are all there.

Thought I led the 2nd pitch but not sure if I was actually on it. Felt like 5.5 but was very dirty and didn't look like it gets climbed much. I did break through a small roof with a piton, there was 2 death blocks directly beneath which added challenge to the move due to making certain I didn't disturb them. Be careful there...I initially pulled on one and it moved...very scary. Finished in a left-facing corner with a piton.

A fun outing and a classic at the grade. If you set it up right and don't mind a wee bit of run-out you can protect this well for your follower and avoid rope drag. I thought P1 was on the easy-ish end of gunks 5.5 while P2 crux is definitely hard for the grade.