Excalibur is owned by MGM-Mirage and all MGM-Mirage properties use one card. There are often bonuses of signing up for cards, so be sure you milk this opportunity for what it's worth. Unfortunately, I don't think MGM-Mirage is very fond of new player promotions.
I've never stayed at PH, but I'm almost positive that the rooms will be nicer than those at the Excalibur. And at least in my opinion, PH has a much nicer location.
Planet Hollywood's games at the $5-$25 level are pretty much standard in terms of the Strip. They're not great but playable with Wonging. However, there are several dealers at PH who were obviously hired for their looks rather than their dealing skills, so there are more "advanced" opportunities there than at the MGM-Mirage joints (where the dealers are generally top-notch).
Also, note that because MGM-Mirage has a common card, you can simply stay at Excalibur and play at places with better games, such as MGM Grand, or Mandalay Bay, which are within spitting distance of Excalibur. Tropicana is also very close to Excalibur but isn't an MGM-Mirage property.
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