I've come out here a few times after my visits to Red Rock Canyon. What makes this town unique is that it feels like Mayberry from the Andy Griffin Show.
Blue Diamond is a unique little town, isolated from the noise and the over extravagant Las Vegas. The most amusing part is the random burros that roam around the town. They poop all over the roads and I saw a few in the front yard of a house sleeping near someone's car.
This is definitely a place to visit before or after Red Rock Canyon. The surrounding views are worth it.