This is a very nice place to sit while at the Wynn and do some people watching. Drink prices are reasonable (they have top-shelf stuff ater all) for the Wynn, and they have some pretty interesting cocktails. You also get a little bowl of goodies (think peanuts, asian trail mix, dried fruit,etc) to consume with your drinks.
I like Parasol Down around dinner, and watching people oogle over the curved escalators is pretty hilarious. Parasol Up is better after dinner and later at night to watch the drunk people at the tables and going to the various clubs.
Not a bad stop in-between, but I couldn't imagine drinking here all night.