I was there on business and stayed in a glorious suite for for four days.
Thankfully, because the days that I was there it rained for three days. There is a movie theatre so I took advantage of it-saw Avatar (IMAX, 3-D). There is a food court and lots of restaurants to choose from.
The Palms is not on the strip so if you don't rent a car you'll have to take a taxi to the Strip. I took a taxi a few times and decided to rent a car. It's much cheaper!! Take advantage of valet service when you park...it saves so much time and less hassle!