The Luxor seems to be the discount or Motel 6 version of the casinos on the strip.
It's located at the far end of the strip, but is connected by a small tram to Mandalay Bay and Excalibur. From Excalibur, you can walk catercorner to the MGM Grand and the monorail to get you to other casinos on the Strip.
You'll probably want to do that since the Luxor is pretty mediocre compared to the other casinos. The room is actually fairly spacious and has the basic amenities: bed, table, bathroom, cabinet with tube TV. The furniture was a little dinged up and the carpet was a bit frayed with a red stain in one area (creating the fun hotel guessing game of Blood or Kool-Aid?). But comfortable enough. I should point out that I had a Pyramid room and I understand some of the Tower rooms are nicer.
The hotel also has the basic shops necessary to run a small village (24 hour convenience store, 24 food place, minor shopping, etc.) as well as a small casino area in the center of the pyramid. It's just that the casino area suffers compared to the gaming floors in other places. There are a few shows (such as Carrot Top) available as well.
I was staying here for the half marathon and for the race it's a nice location. Conveniently located close to the start and finish with a tram from Mandalay Bay. Luxor might be a good choice for the Vegas visitor who's just planning on using the room as a place to stash their stuff while they spend all day on the Strip. Probably not as good of a choice if you're planning on doing a leisurely Vegas trip and staying around the casino.