Chip, I've been on the "Path" a few times, summer, winter, skis, snowshoes, etc. But, have never done it end to end. If you are going in Dec. or early Jan. consider the shortness of the days, plan on some night time travel, extra batteries or extra headlamp. Alpine start from the east would put you on the most technical and difficult sections of the trail in the dark. A western start and you risk finishing in the dark, on those difficult sections, but much more fatiqued than in the morning.
Regarding crampons, this being the day hike of all day hikes, old school ten points might be better than 12s, IMO. Faster, lighter, less chance of catching, tripping, etc.
Many of the Catskill summits have been getting regular lake effect snow showers/squalls. We are already poaching tree runs at our more popular ski areas. Without snow making.
More info on conditions etc. should be easy to find at http://www.viewsfromthetop.com/index-vftt.html
Have at it, and good luck. RC