Whenever in Las Vegas and opt out of a rental car I use the monorail as my means of transportation.
I enjoy taking the monorail because no matter where I wanna go to on the strip the monorail for the most part will take me there.
I usually opt for the 3 day pass (because its more cost efficient) instead of the 24 hour pass. With the 3 day pass I have 72 hours to use the pass as much as I want. I have been stupid and thought I could just walk everywhere but just do that for 24 hours and see how your feet feel because mine always felt like bloody stumps...not so fun.
They have many stops on the monorail to get you as close as possible to wherever you wanna be. If your at LV Hilton just walk out the Star Trek casino walk up the stairs and your at the monorail...easy. From there you will hit the Convention Center stop and then on to the Sahara and then Harrahs and then Flamingo and finally MGM (last stop).
The only thing that bugs me about the monorail is all the navigating you have to do all over the casino's just to find the monorail. You have to bring some patience sometimes especially at MGM. The MGM is huge so whether you walking through the casino to get to the monorail or leaving the monorail into the MGM I suggest bringing a picknik because it seems like forever to get through there. The easiest stops in my opinion are at LV Hilton and Sahara.
Oh almost forgot- when riding late at night you'd expect to run into some creepers but in all my experiences they have all been creeper free..good to know!