I really love Caesar's Palace. Located in the middle of the strip with just about everything you need. A nice mall to walk around to spend your winnings, food everywhere from pricey Spago to cheaper food court....hotel rooms are spacious and nice as well. Definitely one of my favorite hotels in terms of practicality! For looks, it's nice, but I personally like the theme/colors of Cosmo and Aria.
Oh, and the fact that it has Payard makes it even better!