Make sure you get one of the rooms with views of the Strip and the Bellagio fountains. I think it's the west tower that has the best views. If you get the corner wrap around balcony it's really a breathtaking view.
We ended up getting a great deal at the Luxor, since it's March Madness, the rooms almost doubled in price. We were lucky to get three nights for under $300. We did look at the Cosmo and I definitely want to stay there one of these days.