Well, I could say a million things about this overrated place. They suck you in by advertising all over Europe (in EVERY hostel!). So you get there and it's fun and all with parties every night. The beach is mediocre. The island is beautiful.
But it's just WEIRD. The people don't want you to ever leave! They don't tell you how to get out of there! They recommend their "bus" to Athens, but DO NOT DO IT! It's miserable! It’s an overnight, cramped, gross bus. It took forever to get there and we had to pay. Plus, we got to Athens late and missed our ferry to Ios (ended up going to Santorini instead first, which was awesome!). We should have just taken the ferry to Athens included on our Eurail passes, but the PP doesn’t help you figure it out. We totally fell for it. Don't do it.
Anyway, Pink Palace is ok. Not as cool as E!'s "Wild On" makes it seem though. But they do break plates over your head when you do the shots of ouzo. My advice is to skip it. Stay elsewhere on Corfu or just head straight to the wild islands down in the Cyclades.