This past week I was in Vegas attending speaking at the AGC conference and ended up staying at the Palazzo hotel, which is the expansion property to the Venetian. The Palazzo is a much larger hotel than the Venetian, more really good customer service, though the hotel is not as nice. The rooms of both hotels are very similar, though you can tell that a lot more time and money went into decorating the Venetian.
That being said, if AU 2008 is held at the Venetian again and I could choose to stay at the Palazzo, I probably would. Both hotels are connected, but the walk to the conference area from the Palazoo seemed to be shorter than the Venetian.
There was not a lot to see in the Palazzo, but I took a few pics of what I thought was interesting.