I stayed at this property 3 times in 2002,2003 and 2004 as an alternative to going on a cruise. Being all inclusive is like the cruise experience, but you have a long beach to stroll.
I really liked this property, but stopped visiting when a hurricane destroyed the playa del carmen beaches in 2005. It appears the beaches have recovered.
The Palace food is better than the standard RUI, but it is not gourmet. I also like the RUI Palace properties because they always have a palm tree forest between the hotel and the beach. This way I can sit by the beach and still hide from the sun.
The Palace tends to be a bit quieter than the other nearby RUI properties (fewer kids and young adults). But, your wrist band allows you to visit all the other nearby RUI properties and enjoy the dining and night life activities.
As long as you get into vacation mode early and just roll with the waves, you will have a great time.