On my recent birthday trip to Vegas, the girls and myself decided go try and stay somewhere new. I'm partial to Caesars and MGM, but we decided to give Paris a try.
The centr location is an absolute benefit and the rooms aren't bad, but it lacks some if the amazing things that make a Vegas Hotel desirable. The casino is fine, but it's small and not very lovely. The shopping is quite limited. The pool was calm and family-oriented (not what I was looking for). Lastly, there isn't any huge draw to a cool bar or night club. The price is economical, but the sacrifice is real.
Unless you are hard core om a budget or looking for a more quaint weekend, splurge on one of the better hotels.