The Las Vegas Monorail was perfect for my recent trip to Vegas. I was staying at Bally's and was back and forth to the convention center multiple times every day. With all the walking I was doing in the convention center it was a nice break riding to and from instead of walking. Not to mention way cheaper than cabbing it every time. The 3 day unlimited pass was $28. As much as I used it not only going to the convention center but every other stop along the way, it was more than worth it.
I will say it has a stop for the Mandalay Bay, but this is still quite a hike from the monorail stop. I had to walk through the MGM to cross the strip to go to the Luxor and take a free tram to the Mandalay Bay. I ended up taking a cab once I got out of the MGM to avoid the hassle.