TL;DR We enjoyed the Palazzo over the Wynn / Encore

Hotel: The Palazzo At The Venetian
Room: Luxury King
Check in: Able to use IHG check-in desk on the side, which was clearly marked for FHR too. We arrived around 11am and couldn't check in immediately, but only had to wait an hour before getting notice the room was ready. They did give the option to switch to the Venetian side for an earlier check in. Check-in came with a welcome letter detailing all the perks that comes with the FHR booking.
Upgrade: Assigned a room with a better view. I don't consider this a true "upgrade" but the rooms are all big to begin with
Late Checkout: 4:00pm check out without asking further
Breakfast Credit: $65. Easy to use with a variety of options. Sat down at the Grand Lux Cafe which was delicious, however there was a big breakfast crowd and service was lacking as a result. There are two Grand Lux Cafe locations where the credit can be used - one at the Palazzo, one at the Venetian.
Credits:Welcome amenity was a bottle of champagne, which can be delivered to the room when you're ready. $100 dining credit was easy to use with a ton of great options. We used it at Buddy V's which was
delicious.
Comment: The room was luxurious and spacious. The hotel service was excellent, and the credits felt easy to get value out of. No issues on the bill. We'd consider burning a FHR credit here again.
Rate Paid: $253

Walked between Palazzo and Wynn which involved cutting through the indoor mall and crossing over the bridge.

Hotel: Wynn / Encore Resort
Room: Encore Resort King
Check in: Checked-in on the Wynn side. There is no special check-in line since all guest are considered "invited". If you hit a busy times, the wait can be annoyingly long. Early check-in granted around 12pm without a problem. Check-in came with a welcome letter detailing all the perks that come with the FHR booking.
Upgrade: Assigned a room with a better view. I don't consider this a true "upgrade" but the view in this particular room was very nice onlooking the golf course and mountains.
Late Checkout: 4:00pm check out without having to ask, however the room key stopped working earlier around 3pm. Luckily we noticed before getting locked out.
Breakfast Credit: $60/day. Used at The Buffet.The environment is nice and bright. The service was lacking; we found ourselves waiting with empty cups for refills. The variety of food is novel. The quality is a step above most but like most buffets only a few dishes were worth going back for.
Credits: $25 welcome credit usable for the minibar or beverages at property-owned outlets. The $100 credit is only for spa services. There are a limited number of day passes available which the credit can be used on. The day pass provides access to the shared areas - Jacuzzi, sauna, steam room, and shower areas with check in/out privileges. The shared spa areas are clothing-optional and gender-separated. Service was great. There were plenty of robes and towels. All of the other scheduled services at the spa are priced higher making the credit just a discount on those, but they get you access to the shared areas too.
Comment: The creditsfelt difficult to extract value out of organically and very coupon book like, which is unfortunately is on brand for the Amex Platinum card. When the bill came, we found some credits were not automatically applied due to new restrictions that weren't disclosed. We originally hadhigh expectations for the Wynn / Encore room but had problems with ours in particular. The room door had an issue at check-in which burned an hour waiting for service. The room itself was not cleaned well with visible dust, hair, and curious...residues. The in-room robes had not been replaced with make-up left all over them. However, the check-out desk service was impeccable when we mentioned those issues and they offered to waive the resort fee.
Rate Paid: $294 (before credit due to room issues)