We stayed here as a last minute vacation and really enjoyed our room. First, the bathroom was as large as our bedroom at home! The bathtub was absolutely amazing! Big enough to relax and enjoy the jets and the water was immediately hot--no lukewarm baths at The Palms! The view of the strip was great too.
The only downside is that The Palms is no where near the Strip. We would take a $10 cab ride to the Strip for the day and only return to the Palms to go back to our room.
The Mexican restaurant in the lobby was really tasty. The Casino was fairly small and overpriced (in my opinion). Across the street there's a ghetto casino that's way cheaper. :)