I'm sad that Mavalli Palace is no more, but in the past few months I've been occasionally "working" this street.
I know that most Chowhounds seem to favor Pongal, Madras Mahal, Dosa Hut, and Curry in a Hurry, but Pongal is the only one of these places I've ever had a consistent meal, and I always favored New Madras Palace, at least for Southern Indian specialties.
I reported the closing of NMP, and its replacement by Udipi Palace, but I don't think there have been any posts about it. There is some evidence that there has been a change in the kitchen and/or management, but it isn't clear. The strengths still seem to be the same: the Southern standbys: dosai, vadai, uttaphams, etc. The coconut chutney is especially strong. Udipi Palace makes a mean lemon rice.
The weaknesses? The curries. Any wet curries are suspect. The service is well-meaning but absent-minded. There can be long gaps between dishes being served (this is a plus as far as I'm concerned, as all food was delivered piping hot), an indication that the kitchen is not taking too many shortcuts.
I miss Mavalli Palace, but on the non-curry dishes, Udipi Palace is its equal.