I went for the 1st and supposedly last time in 2014. When I go back in May it will be my 10th trip.
I have stayed in most of the hotels on the strip. As far south as Luxor, as far north as Encore at Wynn and plenty in between. The best hotel ive stayed at was Cosmopolitan and the worst probably Flamingo (although it had a great location). Encore was a beautiful hotel but probably the worst of them all for value for money and location. I don't think there is a perfect hotel in Vegas, some are great hotels with poor location, others have rubbish pools or amenities others have dated rooms etc etc. For value for money, Luxor is tough to beat.
Recommendations:
Hotels - Luxor, NYNY, Cosmo, Mirage, Signature at MGM.
Bars - Chandelier (Cosmo), Rhumbar (Mirage), Alibi (Aria), Carnaval Court (Harrahs), Juniper (Park MGM), Parasol Up/Down (Wynn), Apex (Old Ghostbar, Palms).
Food - Sake Rok, Wing Lei, Virgils, Hells Kitchen, Maggianos Little Italy.
Shows/Concerts - MJ One, Gaga, Criss Angel.
Clubs - Hakassan (MGM), Omnia (Caesars), Light (Mandalay), Voodoo (Rio), Jewel (Aria), Marquee (Cosmo), 1OAK (Mirage).
Wouldn't bother with - Hoover Dam Tour, staying down on Fremont Street.
As others have said, it is an amazing place, go and enjoy.