The fam and I ate lunch at Canaletto our first day in Vegas. We had a table "outside", which is actually inside, but is made to appear as if you are in San Marco square (minus the dirty pigeons, per my sister).
As mentioned by a previous Yelper, Canaletto is owned by Il Fornaio, so if you like them, you should enjoy Canaletto. Everyone in my family really enjoyed their meals. I ordered the vermicelli con marinara. Unfortunately, I was wearing a cream colored cami and my navy Max Studio dress. Marinara and light colored tops do not mix. Since long strands of pasta are notorious sauce splashers I asked the waiter if I could sub a rigatoni or penne pasta instead. No problem he informed me. That is one of the signs of a restaurant that makes customer service a priority. Stars for you Canaletto!
One of my sisters had artichokes stuffed with crab and the other one had a risotto with shrimp. Brother had pizza margherita. Mom and dad each ordered some sort of meat, but I don't recall specifics. Everyone thoroughly enjoyed their meals.
One of the really fun things about this restaurant, particularly eating on the patio, is the people watching. You can see some mighty interesting people traipsing around the square. Makes for some interesting lunch time topics of discussion.