Overall, the experience at Palace is a pleasant one. From being able to reserve tickets in advance with assigned seating, to being able to order food right to your seat in the Big Screen Bistros, it's hard to go wrong here.
Other reviewers mentioned the potential drawbacks to the assigned seating. Sometimes it is hard to get good seats to an opening night unless you reserve way in advance. It is also challenging to be able to get seats with a large group. However, that is all cancelled out by not having to get in line twice so you can get good seats on opening night.
The food in the bistros is solid overall, although the Zafiro's Express pizza is not even as good as a $2 Roma pizza (which I happen to like). I got a special while watching a UW Badger Football Game on a Bistro Screen, and $8 was way too much to pay for that pizza. The loaded tater tots and chicken tenders are very good, however. Make sure you order your soda in the theater as opposed to at the concession stand - it saves you at least 50 cents with unlimited refills.
The only other reason I don't give the Palace five stars is that the service can still be a bit iffy in the Bistro theaters.