This is among my favorite restaurants in Vegas. I always include Arts Bistro on my list of places to bring friends when they visit from out-of-town. I like the artsy decorum of the place - the vibe is a lot different from standard Vegas. I also really like the down-to-earth atmosphere of the place. It is very nice and eclectic, and has a real sense of uniqueness for being in the middle of Vegas.
The food here is great. My favorites are the artichoke dip and the ahi salad. Its also nice that they have healthy options, as well as dishes for vegans. I was here with some friends for New Years Eve dinner - they had a 10-course tapas meal, which I felt was far superior to any buffet or gourmet meal that could be had on the strip, and it was less expensive too.
Their sangrias are great, I feel as though I can literally taste the word "quality" when I drink it. Their happy hour deal on Sangrias (@ $4) I think is a really great value.