Living: Around And Around Again

Death to disco: strike up a Moonlight Serenade and dance

Way up high in Manhattan's Rainbow Room, where troubles melt like lemon drops and everyone looks more handsome than they really are, Lee Iacocca is doing a passable fox-trot with his daughter. "It's great," he says of the chance to retrieve the old dances. "To me they never went away. We've just had a hiatus for 15 years." This ultimate nightclub reopened last year after a $20 million renovation, and now receives 1,000 calls a day for reservations. "It's what you wanted to have money to spend on," says Joe Baum, mastermind of the dazzling art-deco aerie. Says psychologist Penny Binn,...

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