We came here for a guys trip and it was even better then we thought it could be. The hotel is simply amazing, I don't know if I can stay anywhere else on the strip anymore after being spoiled at the Palazzo.
We got the Bella Suite. The rooms are over the top, you are definitely getting your money's worth. We had 2 rooms (joined together) and the rooms were spotless, great decor throughout, amazing sitting area with a view I can only describe as EPIC and even remote controlled blinds. We had 3 TV's in each room - one near the beds, one near the sitting area, and one in the bathroom. Oh and the rooms are massive. You can easily sleep 6 if you really wanted to - 2 on each bed and 2 on the large sectional sofa (which is also a pull out bed).
There's a lot of other great stuff, but you can see all the reviews here for more - I say just go for it, stay at the Palazzo.