I heard a few times about the Tokyo <> Hakuba bus connection but this year was the first time I tried it. I used Alpico buses before, from Nagano to Hakuba, and return.

I took the 07:00 bus from Hakuba to Shinjuku last week. It's of course the same size as the Nagano one, but it has less seats. I didn't count, but I think about 40. You have really good leg-space and the seats recline well.

The bus has toilet. Journey time is 4:30 (usually) and the bus has 2 times a 10 Minute stop on the highway in a sort of well stocked highway shopping center.

All together it was a really comfortable journey and I would do it anytime again. It's with ¥4700 (return 8500) also much cheaper then the Shinkansen (about ¥8000 + 1400 for the Nagano bus).

Added bonus: you come quite close to Mt. Fuji, have your digicam ready.

5 Stars!

PS: The overnight bus from Shinjuku to Hakuba takes 7 hours and arrives Hakuba at 05:30 - 2.5 hours before the lift opening. I am not sure I would like to try that, sounds like a type of torture.