I've stayed at both Elara and Flamingo at least twice each...kinda lost count. I go back and forth as to which I prefer, Elara has nicer creature comforts, Flamingo has a better location. Reading between the lines, you might prefer Elara. No way would I swap from Flamingo to the Grandview, the Flamingo location is just too good and to me the noise was not really an issue. If there's any swapping go to Elara.
As a previous poster noted, the pool noise at Flamingo is only during the day. It's never been an issue for me, but I have a pretty high tolerance for that kind of thing especially in the afternoon...it's Vegas, it's supposed to be fun! And, um, Flamingo casino, tact and respect?? Really??? It's not the Wynn or Palazzo. Anyway, I wouldn't characterize the pool noise as "loud, loud", just noticeable. Higher floors would be better to mitigate noise, but they all face the pool.
But the location is fantastic. It's right on the monorail so all of the MGM properties on the south strip are easily accessible via the monorail and almost anything else is easily walkable. Flamingo, Caesar's, Bally's, Paris, Bellagio, the Linq and the Linq Promenade, and Harrah's are all a short walk. Mirage, Venetian, and Palazzo are a bit further on the north side, Planet Hollywood and Cosmopolitan about the same on the south, but doable. There's really no need for a car at either Flamingo or Elara unless you want to go off strip, you could save a few bucs by just renting one for your side trips. Flamingo rooms are a bit dated but it's currently under renovation, might be done by next Labor Day. Honestly, the reno noise was worse than the pool noise in early Oct this year.
Elara is a more upscale, more modern property and feels more removed from the strip, although the walk through the shopping mall to Planet Hollywood is about the same as HGVC Flamingo to the front of Flamingo casino. It is a more quiet property overall, but usually requires more points.
Elara has easy access to Planet Hollywood, Cosmopolitan and all of City Center, plus Bellagio. Walking up to the Paris and Bally's is easy and the Flamingo/Linq/Caesars area isn't too bad. Mirage, Venetian, Palazzo are a bit too far for me from Elara. Also, the south strip is a bit of a hike from Elara, but you can tram from Excalibur to Luxor and Mandalay Bay. I'd actually cab it to south strip, but I'm lazy. I think there's a tram from somewhere in City Center to NYNY as well. Monorail access is a breeze at Flamingo and a pain at Elara.
The mall and PH give you many more food options and easy access to a greater variety of shops. Parking at the Elara is in the same parking structure as PH and the Miracle Mile, very convenient to the hotel. Much better than the HGVC Flamingo parking in the ancient, grubby Flamingo garage that seems miles away. Both are free to guests.
The Elara pool is a bit plain, but nice. The pool is only about 3ft deep everywhere. Decent small bar, definitely not a party scene, but larger and nicer than the HGVC Flamingo pool. It has a good number of cabanas if you're interested. If you're a pool party person, big edge to HGVC Flamingo with the access agreement with the Go pool. However, the rooms at Elara are quieter as there is no noise from the Go pool or the clubs at the Cromwell.
