I haven't called yet, but saw an update online.
http://www.facebook.com/PalazzoLasVegas?v=wall
(Sorry, don't know how to link to specific wall posts)
Look for "Chinese New Year Decor".
A user has posted this info. The Palazzo responded, and didn't dispute it, so I guess that's as good as confirming it
It's a beautiful place but on 1/12/2011 a director of player development there told me that there would be no further "deals" because they are now exclusively concentrating on the convention crowd because the economy has picked up sufficien...tly that their occupancy is nearly full almost daily so they "really don't need to give out any comps anymore." If you pay casino rates and play hard enough, they might comp you a meal or two and perhaps a day or so on your room stay.