Went here with a group during a conference in Vegas and loved it!
There seem to be a lot of steps (processes, not stairs) in getting to the actual platform to alight onto the wheel. And of course, each of them comes with an opportunity to spend money. However, it's worth it for a delightful 30 minute ride that is over way too quickly.
The pods are roomy and air conditioned with great visibility on all sides.
The views are spectacular. When you see yourself looking down at the top of giant hotels such as Venetian, you'll realize how high up you are.
I also liked looking at the mechanics of the wheel as it went around. It's a pretty awesome achievement. I'd definitely go again.