I have been here 3 times, and first I would like to disagree with some of the other reviews on 2 points: 1) the buffalo wings aren't that great, and 2) this place is not that expensive, especially not for the Vegas strip. Sure it's pricier than your local diner that also serves American comfort food, but the menu and decor are much more interesting here.
They have happy hour with 2 for 1 Stella Artois', and are glad to accomodate you if you order a bunch of them at 6:59 :-)
As for the food it's pretty good. I've had the chicken paillard and spaghetti & meatballs and enjoyed both. The menu choices are not the healthiest but that's not really why you go there
Lastly if you are in the Palazzo slightly before 7pm with a 5 year old boy, I cannot recommend this place highly enough. You get a great view from the window booths of the pirate show at Treasure Island (with no sound of course), and my son absolutely loved it!