Highly overrated. Highly Overpriced.
The oxtail soup was the only exceptional dish, everything was very mediocre. We had ordered nothing short of the best Cut had to offer: Japanese Kobe, American Wagyu, Lobster, polenta, creamed spinach, fuji apple salad, and onion rings. Nothing spectacular. Everything lacked that "wow" you would expect when you pay $250 for your dinner.
If you are looking for a GREAT steakhouse in LV, try Botero at the Encore. They top Cut in all respects, no joke. Note I did have Japanese Kobe at both restaurants.
I'd stay away from this place. Too much hype all around.