I stayed here back in August and had a great experience.
I had just turned 21 and convinced my parents to take me to Vegas; after searching for great deals and glamorous hotels we decided on Ballys because of its price $100 per night (before the $30 resort fee) and we payed a little extra to stay in the newly renovated Jubilee Tower, which is well worth the extra $, the view was amazing!
Pros: Bally's is a hidden gem, it is right at the heart of the Strip and not overcrowded with tourists in the casino. The casino isn't huge or a maze. The Jubilee tower was smoke free (to my knowledge). Ballys is also connected to Paris Las Vegas, so if we waned some French atmosphere it was a 5 minute walk from the room. The Pool actually had a deep end which is extremely hard to find at Vegas Hotels. The Bizarre Shops and restaurants out front made dining cheap real easy!
Cons: The casino could use an update, looks like it hasn't changed since 2000. The pool is a very long walk from the Jubilee tower. Casino is more smokey than other resorts on the strip (didn't bother me but my brother didn't like it.).
Over All I would stay here again in a heartbeat!