Raffles is not worth driving or walking to from a different hotel but it is great for those staying at Mandalay Bay. It offers good food at a decent price during all hours of the day. I alway end up eating there just for the convenience.
It is great for people with large groups because they have large tables for groups of 5 or more. Usually groups actually end up getting tables before couples or small groups of less than four. The tables are also spread out so you don't end up sitting a foot away from another table.
I recommend their Huevos Ranchero. Delicious!