Well it depends when you are going. We just got back, but we drove. If you sign up for the hotels there they will email you alot of deals. I keep getting them and it just depends on where you want to stay.
My suggestion is stay on the strip in the mix of things. . .anywhere between Spring Mtn. Rd and Tropicana Ave. It just makes it easier to see and do everything. There should be a ton of deals out there right now. We stayed at the Flamingo last time and it was great. I've always heard great things about the Monte Carlo too. If you go. . .be sure to catch the buffet at the Paris at least once. We did a late breakfast there. And the buffet at the Alladin (which is Planet Hollywood now) was amazing and we ate there several times.
ETA-Ballys has a $39/nt special going. . and the location is perfect! It's on the Las Vegas Advisor site linked above. To the right it says: Today's Top Vegas Room & Show Deals! Just click on Bally's and it will give you the details.
Monte Carlo is running specials with rooms as low as 37 a night. It is much nicer then Flaming(I won't stay there it is pretty shabby) and NYNY. It has a free tram to the Bellagio/ Very nice rooms, fun casino and some great food. Personally I like the Wynn but it is pricey unless you have a comp/ And if I hear one more person say they are going to Vegas and don't drink or gamble much I think i will screamSeriously why go then? You can shop and see shows tii your hearts content in NYC. Vegas is a party town so I don't get it/