The cost of a room will vary greatly depending on how full the casino is. I believe Simmo got his at a pre-opening promotional rate, something like HK$1100 per night... mine was in the region of HK$1800 per night, and anyone trying to book that week at a late stage was being quoted at least HK$2900 per night.
With that being said - unless you have good reason to stay at the Venetian, I'd opt for some of the choices in town - even the Wynn isn't as expensive as the Venetian, and personally the rooms at the StarWorld are my favorite.
Do keep in mind that there is currently nothing to do outside the Venetian - on the other hand, in town there are other things to do right on your doorstep. On the other hand, the Venetian is so huge that there really IS no reason to set foot outside unless you need your daily dose of sun.
Jetset - Simmo won, Spearmaster lost. End of story... LOL... the only thing I won was a dinner - Simmo lost on a double or bust bet on the last MGS tourney we took part in before he left for Macau.
Chuchu - next time we plan everything in advance, either we go to HK, or you come to Macau, or both. I might be over again this weekend so if you're interested in a meal, that might be a good time. We'll see if we can patch Simmo in by hologram or something