It was a bit disappointing. I guess it depends on where you are going. The stations are always in the back of the casinos it seems. It's ok for Northern strip locations to tool around, but I was hoping to use to go to Mandalay Bay. You have to walk completely through MGM (a HUGE walk). It also doesn't start until 7am (I believe) so if you have an early morning conference, it won't be as effective.
For what it is, it's ok. Actually the bus service in Vegas for local strip excursions especially, isn't that bad. I never really had to wait that long. It's a lot less walking..