The monorail is very convenient especially during the hot summer months. In my opinion, I prefer the monorail over the taxi cab. I was in Vegas a couple weeks ago and the 24 hour pass was $9. As of right now, the price is still $9 according to the official website. The monorail has stops from the MGM Grand (South Strip) all the way to the Sahara (North Strip) with stops in the middle. If you want to be in the middle of it all, I prefer getting off the Harrahs/Imperial Palace station. The only negative thing I have about the monorail is that it can get pretty full to the point where you would have to wait for another train. Other than that, by all means necessary, take the monorail rather than the cab.