Yes. Yes. Yes.
My wife and I took a little bus ride over here on one of our annual trips to Vegas (honeymoon this time yay!) and man was it worth it. We love Indian buffets, but in the Midwest the quality level can vary quite a bit. Mount Everest hits it out of the park. Price was incredibly reasonable (10-15$), they had just about every Indian food I've ever had available, and the taste was sublime. Mouth-watering delicious. The staff was polite and friendly too.
The bus ride was very reasonable. We bought a Deuce Bus 24 hr pass ($8) which was also good for the city bus, so we were able to hop one from the strip over to there. Its a pretty quick ride and the neighborhood seemed fine. I've snagged the Duece pass each time I've been in Vegas and despite being slow at times its one of the best ways to save money when out on the town.
If you are an Indian Buffet lover, this is my favorite of all the ones I've had, so definitely make the time and give it a stop.