If you are looking for luxury, the Ballagio is it. I recommend the Deluxe Lake View rooms overlooking Lake Bellagio so that you can see the fountain show live, rather than watching it on your TV. The rooms are spacious and the marble bathrooms have a seperate tub and large glass enclosed shower. The flowers and plants in the conservatory are beautiful. Go see the Gallery of Fine Art at the Bellagio. Original works from Corot, Van Gogh, Monet, and Renoir to name a few.
The only downsides I experienced was being placed on hold anytime I called the front desk or concierge and smoking in the casino. Breakfast room service was very fast. Promised in 40 minutes and delivered in 20 minutes. As a side note, the taxi ride to the airport is around $12 excluding tip. Also, take some time to explore ""old Las Vegas"" on Freemont Street.
Pros: Art Gallery, Conservatory, Room
Cons: Smoking in Casino
more