Thanks for the quick and helpful reply. I spent some time searching FT yesterday and was surprised at the lack of recent reports -- your post confirms what I had hoped.
We're not too worried about an upgrade: their smallest rooms are plenty big enough. We're looking at a mid-week stay (= no BOGO) and rooms start at $380 (March = spring break), so it seems like a good use of 30,000 poimts/night. VIP lounge access and even a capped minibar make the deal even better. I've gone ahead and booked it -- thanks again.
They have also become a 50K point IC (both the Venetian and Palazzo). With that said, they ran a "1 year anniversary" sale for 25K points sometime in May, and Mrs. Travelindave and I just got back. We stayed 3 nights and received the normal RA benefits but only a 1 category upgrade to a Luxury Suite with View. I didn't watch the minibar tab, so I'm not sure if I spend $100 or not, but either way there was nothing on the bill. Only the $20 resort fee. Not too bad for 75K points, and I can't complain about the small upgrade on an award stay.