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Though its neutral, geometric decor may appear too understated to crest the torrential wave of hotel restaurants, Ilo makes the rest of them seem like washouts. Chef-owner Rick Laakkonen's charms and talents are many: a rich lemon-thyme-scented ragout of octopus and Manila clams; pan-roasted rabbit with olives and oregano; grilled quail devilishly grounded by white hominy; and a gloriously simple roasted duck that will make you consider taking up residence at the Bryant Park.