My wife and I just returned from a 4 day mini-vacation to Las Vegas. We're both seasoned travelers, but, haven't been to Las Vegas in over 15 years. Needless to say, it's changed! Here are a couple of quick points that may be of interest.
First, like many other posts, we stayed at the Renaissance on Paradise. It really is a nice hotel, about 1/2 mile or so from the Strip. They were running an eBreak special, which was a great deal.
To get to the Strip, the monorail is a great option ($5/trip, $12/day) as is the Wynn shuttle (free 8am-8pm). Walking is do-able, but, isn't very interesting.
The Renaissance executive lounge is undergoing rennovations. They gave us $15 coupons for breakfast at the Envy restaurant, which was a nice gesture. Unfortunately, there isn't a buffet and we ended up running a little over each day--$3-$7, nothing major, but something to keep in mind. We did better using the coupons at the take out place, EGo Cafe.
The Strip is awesome, but, it was more expensive than we expected. Dinner for 2 with drinks was almost always $110+, with a martini going for $12-$14 each. As an alternative, the Fire Fly restaurant down the street from the hotel serves excellent tapas. The Bellagio Buffet was excellent and a pretty good deal, relatively speaking.
If you want to catch a show, make sure to check out the discount ticket outlets like Tix4less. Not to harp on the price issue, but, a bottle of water was $6 in the theater...ouch.