Great value if you don't mind staying off the strip.
You have to take a bus or a cab to the strip. There two buses - one takes you to Flamingo/Ballys which takes about 5-7 minutes, the other one takes you to Wynn/Fashion Mall.
Busses run every 20 minutes though, so you are definitely spending time waiting for them.
Pluses: 1. very quiet area!! 2. clean and spacious rooms 3. attentive front desk service 4. very nice if you have kids with you or staying for more than a week 5. couple of restaurants that Yelp rated the best in Vegas are within the walking distance
Minuses: 1. dated appliances 2. distance from the strip