We live in LV too and the coupon has been pretty much useless since Garduno's left as we used it for the Sunday brunch.
We are actually staying there Sun/Mon this week and I just read in another thread that if you get a discounted room rate you can't use it for that either. I'm not sure who the Palms is marketing to, but they lost the hip factor to the Cosmo and others, they don't do conventions and most of the locals I know won't take the time to walk across the street from the Gold Coast to give them any action.