Incredible and Fantastic and Amazing. The rooms are beautiful and elegant, spacious with gorgeous furnishings. The only reason I can't go 5 stars is because the comfort of the bed and the bedding could definitley be improved. The bed is the most important element of a hotel room, correct? The bathroom is beautiful. The rooms are very similar to the Venetian rooms, but I do recall the beds being a bit nicer over there, though, it's been a few years since we've stayed there.
The restaurants in The Palazzo are good! Really enjoyed Woo and Table 10. Very easy access to Venetian and the Grande Canal Shoppes and the incredible Venetian restaurants. You can spend all day...even 2 or 3... between The Palazzo and The Venetian and never run out of things to do and see or eat. Be sure to see The Jersey Boys while there!
The Palazzo is a very very solid choice in Vegas.