We own at the Villa's and a unit in the Suites. We haven't spent a night in the Suites in probably three years or so. However, the Villa's are still very nice, not outdated and not worn out, although some of the furniture was showing a little wear the last time we were there in March of 2004.
As for room selection anything other than an west facing room (towards the strip) at the North end of the tower. That's the end that get's the early morning wake up call from the trash trucks. It's also the end that's above the kiddie splash park. However, that end would have the view of the Bellagio and Aladdin, which is a very nice view.
On the south end of the tower, if you end up facing west, you'll have a view of the MGM and NYNY. It's really a pretty decent view IMO. You'll also have a view into the suites units right across from you. Some people forget that there are rooms directly across that can SEE into the units. I saw a little more than some young ladies probably intended a couple of times. The wife could always tell when it happened because it was the only time I'd drop my drink out of my hand.
In other words, don't forget to close your window when you're getting dressed.
Our favorite location in the past has been the east facing rooms, high floor (facing the mountains). I'm not sure how great the view would be anymore now that Marriott is putting up their TS and the MGM is building a condo unit of their own. It could be much of the view is obscured by the construction work.
I have some pictures of Polo Towers, both the suite's and villa's, at
http://community.webshots.com/album/189444515JrRAxF
