This is the first hotel we stayed in when we came to Vegas last summer. If you are in Vegas for the first time I highly recommend it. The property is priced well and has access to so many amenities right on property.
First - be aware the rooms are small. But who cares! You are in Vegas! You won't be spending much time in your room. They are very clean and the staff is attentive. It's a short distance from the airport (about a $15 cab ride). The hotel it's self is located on the lower end of the strip across from the Luxor and New York New York. The property is huge! You can walk to many other places from here. You always have access to the monorail. Tickets for the monorail are cheap and can be purchased from one ride to an unlimited pass. You can take it to Places like Harrahs and Paris making it easy to see other hotels without walking so much.
Second - on property you have access to several restaurants ranging from a food court to a property from Wolf Gangpuck. My personal recommendation is recommend Crush. It also has a small shopping area near the pool entrance and the casino is also on the first floor.
Third - the pools! If you are lucky enough to visit when the weather is nice be sure to check out the pools. The MGM has several different pool options including a day club with guest DJs (additional charge) and a lazy river. They have plenty of chairs all over property so no worries about not having a space. The pool also has food and alcohol stations so you never have to go back inside the hotel until you're done for he day.