In terms of ROOMS Bellagio is a Luxury hotel, The service there does not make it a luxury hotel it my mind.

I think the only True 5* hotels is Las Vegas are the FS and the Wynn. With the Wynn having the edge because of the Tower Suites.

If the OP is indeed young I think he will fair better at CP the pool is more to a young crowd as well as the shopping. You can also get a nicer room there for less money.