If this place isn't overrated - I'm not sure what is.
I'll start by saying that I was inclined to try Slice of Vegas because of a Groupon. As a local - it's always entertaining to spend a few hours on a Friday night at the Strip - looking at all tourists so we figured we could be entertained AND eat for cheap.
Neither one of is drinks alcohol on any regular basis so cocktails were not in the mix so thererefore cannot comment on prices.
We started our night with about a 15 min wait for a table - which really wasn't so bad. The staff seemed friendly so I will give them a + in that department aside from the fact that our waitress was a bit peeved that I only ordered water with lemon. As someone who tries to pay attention to the calories that I put into my body - I don't normally drink soda or juice and I'm sorry but I'm not paying $2.75 or $2.95 for water that had a Lipton tea bag in it . There are a lot of things that I spend a lot of money on but I'm not going to be ripped off when I don't even want the item. Had she not been peeved - she would have gotten our standard 20-25% tip.
As far as food - we ordered an antipasto app - I think it was about $11.95. It was decently sized and had a good amount of taste but I think I'm just spoiled coming from back east. I'm used a really hearty platter when I get an antipasto. I am also looking for more meat and cheese in Vegas and it seems no one gets it right. In addition to the antipasto - we ordered a 12" meat lovers pizza. It too was tasty and I will say that it was MUCH tastier than Grimaldi's (who everyone raves about) but seriously - damn near $20 for a 12 inch pizza and $30 for a large .. You have to be joking. There is no way in hell that I would EVER pay $30 for 16 inch pizza - I don't care what's on it.
So - all in all - for a tourist walking thru the Shoppes at Mandalay Bay dying for pizza - more power to you. For a local - don't waste your money. There are plenty of places in town with mediocre pizza for less money.