It's like RennFest, only...not nearly as hilarious.
The carpets are dirty and grimy and the "stores" are lacking. I will say that from the outside, at night, it looks *amazing*...but that's probably as close as you want to get.
Which is pretty sad because I'm pretty much a fantasy/SCA/Renn-fest freak and one would think that this would be right up my alley. Yeah...not quite.
However, if you are looking for uber cheap lodging right in the heart of the Strip...this isn't bad. Just don't expect a magical experience.