This is seriously a must-do in Vegas. Tallest observation wheel in the world! I'm a sucker for all things ferris wheel, so I was really jazzed about this. Check around for discounts prior to walking in, as a daytime ride will set you back about $25, with prices increasing after 5PM. I believe discounted tix are available for locals online (half off!!) and a few dollars off when purchasing a ticket online for non-locals. The ride is super smooth - it takes the full half hour to make a complete trip, so you barely notice any movement. We rode during day before lunch on a weekday, and had a whole car to ourselves. I enjoyed being able to see the mountains off in the distance, but I suspect a night time view would have its own merits. There are two little seats on the inner edges of the wheel, so if you feel a bit woozy you can have a sit.
Only downside? The 'announcer' on the televisions within the car was turned up REALLY loud, and ended up being kind of annoying. I did like that they tell you when you've reached the top, and give you some historical facts about the area, but there was no way to adjust the audio. Make sure to use the restroom before entering the pod.
Great views of the city!!