Not a bad way to get around the Strip--assuming you can find the station. The stations are well kept and the trains were clean. I like the idea of the monorail, but (i) it's poorly designed because most of the stations are located behind the casinos (and thus walk to the monorail is long from Las Vegas Blvd), and (ii) the casinos do not have good signs to point you to the monorail.
It's also somewhat of a ripoff to have to pay $5 for public transportation, especially considering the monorail doesn't go far.