Yes - It is extensive.
Yes - The food is well made (only a few bland options, but hey, you've got to have something for those with more sensitive palates).
Yes - You will need to block at least four hours out of your day.
I headed over on Sunday at about 2:30 in the afternoon. Long wait (about an hour) and finally seated in the main room area near the dessert section (thank you!).
The options were plentiful and the Asian selection was so well flavored I actually headed back for seconds.
The sweets options were amazing too. Next time I will start with gelato and end with salad as I missed out on trying a few of the tarts.
So why one less star? It's waaaaay understaffed. Our server saw my table (of 4 and 1 baby) maybe 4 times in the 2.5-3 hours we were there. Drinks were refilled once, plates cleared twice. It wasn't her fault though. The place was just too packed for the amount of staff. Our group even heard the chefs asking if their break time was coming up.
From my experience with Vegas buffets, this is going to be a major issue in the future. Food quality will decrease and you will be stacking your plates high.
Go now when it is at it's premium high, in 6 months there will be some major reductions of quality.