I will start off with the reason why I minus-ed a star from this 5 star love of this place: The seating. That is my only gripe with this place. Now on to the real review.
S&W's steaks are brilliant. The aging process they use imparts a medium earthiness and creates a bite through the meat that is perfect. Not tough but actually requires you to chew lightly to savor the flavor. I recommend the bleu cheese encrusted filet and the porterhouse.
The bar is VERY EXTENSIVE to which I was extremely grateful. I am an avid absinteur and enjoyed that they had four different types of absinthe/pastis NOT SERVED ELSEWHERE in Las Vegas. I recommend ordering a Ricard with a rocks glass of ice water.
Also the sides are awesome, the truffled mac and cheese is great but I preferred it without the truffle oil, baked potatoes are huge, and the sauteed mushrooms were served in a butter wine reduction that was superb.
Lastly, we had 3 different desserts: creme brulee, fresh fruit marinated in liqueur, and a chocolate souffle. All were excellent.
The service and hours are wonderful. Open til 1-2am and the servers pointed us in the right direction when it came to food. The prices were sizable (4 people, $355+$80 tip) but VEEEEERY worth it.
When you need to have a night just to splurge and experience excellence in a steakhouse, visit Smith and Wollensky's.