Timely post. I just got back from my honeymoon from Rome and Florence. Taking into consideration my platinum status and all the comments on this board I stayed at the Westin Excelsior in Rome and the Grand Hotel in Florence using points.

The Excelsior in Rome was spectacular, I was upgraded to a huge corner suite, we're talking probably over 1,000 square feet. 4 hallway closets, 2 sinks, tub, and shower. Living room with fireplace(just for looks, doesn't work), chandelier, desk, sofa, chair, and Bang & Olufsen TV. Bedroom with a King bed, chandelier over the bed and my favorite; a TV that came out from a dresser at the foot of the bed via a remote. Way cool! The service was great, and the breakfast in the restaurant was excellent.
For 10K points a night it was an unbelievable experience. They also left a bottle of champagne and chocolate dipped strawberries with a note congratulating us on our wedding. Very nice touch, and I personally thanked the manager when we left.
By the way, the heavenly beds are awesome! We did take a look at the Grand Hotel across the street and the lobby and lounge didn't seem as nice...

As for Florence, for 14K points/night we stayed at the Grand Hotel which is across the street from the Westin Excelsior. Also got upgraded to a nice suite, a bit smaller than Rome but still very large. Not as nicely decorated. The hotel is a very old hotel and it shows, not old in a bad way, but in a historical one. We got a bottle of champagne and some grapes, with a nice touch on the bed where they left an outline of a heart in rose pedals for us, and a note congratulating us. The service is first rate. My only complaints were that there is no heater in the hotel room, and it got a bit more than chilly at night. And the beds are not nearly as comfortable as a heavenly bed. In fact the sheets were linen sheets, literally. The material was linen. I'm sure very expensive, but not in the least warm, the blanket was very thin. We had to take out from the closet some brown ugly blankets to keep us warm at night. The room wasn't nearly as ornate or beautiful as the Rome Excelsior. We both agreed that the extra 4K points /night probably weren't worth it, and we wish we could have been sleeping in a heavenly bed across the street.

By the way, we spent 5 nights in Rome and 3 night in Florence.