I can't give the Palazzo a bad rating, but at the same time I urge you to take this review with a grain of salt for the kind of hotel room you would like to stay at depending on what you are doing in Las Vegas. For me, staying at the Palazzo was overly extravagant and unnecessary.
Let me qualify, yes the hotel rooms are absolutely gorgeous and amazing. They look the same as the Venetian ones and are of the same size as well so if you're looking for just the experience and the Venetian is cheaper, I would recommend that instead. Also the Palazzo seems to have this intense perfume-y smell that I cannot get rid of and it gives me a headache downstairs especially in their lobby area. I almost feel like they need some smoke to de-intensify the perfume. I just think the rooms are too big and unnecessarily so. Most people come to Vegas and they go out, and they're out all day and all night and only in the room to sleep. So basically you're wasting all those crazy couches and all that space. I think unless you go with a large group of people and are planning to share a hotel room this place is just plain excessive.
Other than that, all the amenities are nice but I don't really like how there's nothing in the shower to put your own stuff on or no ledge at all.