I've been to Vegas 4 times in the last 8 months. I love Vegas!! I've also stayed at a different hotel/casino each time... so here's what I'd say:
* I think you should definitely try to stay at a hotel in the middle of the strip. You won't regret it! In the center of the strip, I've stayed at TI & Caesar's.. both nice. On the south side of the strip, I've stayed at MGM & Luxor. Both nice, but the walk can get annoying.
* For shopping, the Forum shops at Caesar's wins, no contest!!
* Clubbing, I like Rain (Palms), Pure (Caesar's), and Light (Bellagio). Light is smaller than the previous 2, but still fun nonetheless. If you're going to go to a place like Rain or Pure, get there early. You won't regret it. Those places usually open at 11... when we went, we 'got in line' at about 9.30 (we would take turns - 1 of us would wait in line, the others would get the 1 drinks and stay close by gambling) and when the place opened up, we didn't have to wait at all
* Bars / Lounges, I like Ghost bar (Palms-get on the list before the place opens), Rouge (cool place in MGM) and Cleopatra's Barge is pretty alright too (Caesar's). Jet is fun, but I think that could fall in the club category?
* If you can, SEE A CIRQUE DE SOULE show!! They are amazing. I've seen KA (MGM) & O (Bellagio). Both were spectacular. Get your tix in advance for the best seats
* If you want to see the "laser show" downtown, take a cab - lest you risk being mugged or shot at.
* At the end of a long night of partying, take a cab home. During my last trip, we were leaving the Bellagio and my friend was like "Do you want to get a cab, or walk?" The Luxor didn't *LOOK* that far, so I decided we should walk. 1.5 miles later, we were finally home. They look closer because they are big buildings.. at least that is my theory.
* Meet new people everyday. Most people in Vegas are there to have a good time
* Have at least 1 really really nice dinner. The Bellagio has a fantastic steakhouse with a great selection of wine. Galleger's (sp?) in New York New York is another great steakhouse.
My last piece of advice:
* If you're walking around the MGM, don't waste your time on the TV screening thing. Trust me on this one.