Like the other high-end Strip hotels in Vegas, the Wynn is beautiful. We upgraded to a 60th floor room overlooking the strip with floor to ceiling windows (with really cool push-button controls). It was still less than $200/night. The casino is relatively small compared to the other nicer hotels. It's hard to find blackjack less than $15/hand. Also, their dining program has recently taken a huge hit with the closure of Alex. The Wynn is also very far north and it's about 1.5 miles to get to the middle of the strip.
We stayed there because I had a convention there (and they gave us a great rate). However, if we have our choice next time, we'll stay somewhere slightly nicer and more centrally located.