We booked a studio suite here and absolutely LOVED it. There's a bar, a fridge, microwave, comfy bed, pullout sofa bed, and plenty of room for 3-4 people. The decor is chic and modern, with dark (black) hardwood flooring and mod furniture. There are 3 flatscreen tvs, including one in the bathroom. We also had a sweet upgrade to an awesome front-and-center view of the Strip (we were on the 27th floor)
The bathroom has a frosted glass pane and no door separating the toilet from the rest of the bathroom, so it seemed to us that this suite was made more for couples or people who are fairly 'intimate' with one another. The walk-in shower is sexy -- has a see through glass door and 2 showerheads, one on the wall and a waterfall showerhead on the ceiling that "rains" down. Aveda toiletries - nice touch! There's also a separate jacuzzi tub. Like I said, very 'coupley'!
While Palms Place is connected to the Palms, you have to take the elevator to the "sky tube" on the 2nd floor, then take two conveyor belt walkways (long) to get to the Palms, then take another elevator to the Lobby. So that could be annoying to some, but for us it was fine.
Overall has a more grown-up, chic vibe than the Palms, which is still a good spot for young partiers, but is starting to lose it's glam, I think. Rain & Moon draw a much different crowd than say, Marquee or the other higher end clubs, but we still had fun partying at both clubs since we had free passes and never have to wait in line. The convenience of no cabs to party, drink, and walk back to our suite as just too sweet to pass up :)
Palms Place = def. recommended over the Palms!