Palms is nice depending on what you decide to book and for this I'm giving them a 4-star simply because you can choose to book at Palms Place and get a fantastic experience on the cheaps with just a short drive to the strip.
Some benefits of staying here includes a break on your wallet since things are a little bit cheaper as they are compensating you for being off strip. The ghost bar is really pretty cool and their club scene is far less snob and stuck up than a few blocks down towards the strip.
The rooms in the Palms aren't as nice as in Palms Place but you can get a cheaper room to stay in at the Palms and still get the luxury feel of perhaps a 4-star hotel on the strip. It never hurts that Britney has her own spot here ... but it's not really like you can get to it.