I have always LOVED Fremont street and yes it is an experience! It is on a seedier part of town so I am more aware of my surroundings here. I do like the parking garage they put in at the end. It is very easy and it spits you out at one end of the strip where there are a lot of eateries. Price is reasonable to park (I think $3 an hour or $15 day?) but there is no validation anywhere.
Their big draw is the overhead light show. I think it runs every hour in the evenings. I enjoy visiting the kiosks of goodies in the middle. There is always music playing so it can be a little loud. There is a stage at the end where live music is often played.
Then you get all the street "performers" trying to make a buck. You get everything from talented folks playing guitar or the naked men and women wanting you to pose a picture with them for a buck. Some are funny and even grotesque. Lots of scantily clad women walking around. For that reason, Fremont St. not quite family friendly.
There are various casinos on the street to visit and they vary from really nice or simple. We do like gambling here because they often have older slots we enjoy and the machines do not seem as tight here. We usually have a good time losing our money here.
So... I say Fremont St. is a must see but I would never stay the night here. It has a little bit of a dirty vibe. Like I said, I am VERY aware of my surroundings. My mother would be beside herself if she came. lol