yay, vegas! it's my favorite place!

i go at least once a year (and i've been going for the past 13 years). i highly recommend joining
vegas message board; i've been a member for years now, and i love it there. they are very informative and nice.
i saw some people mention staying off strip. i cannot stress enough that you should
not do this for your first trip. even staying at hooters is too far imo. looking at a map is deceiving. it will take you at least 5 minutes to walk from the hooter's exit to las vegas blvd. 5 min. doesn't sound like a lot, but it adds up. to give you an idea of walking times, it generally takes me about 30 minutes to walk from mgm to paris (and that's with low crowds).
besides, staying at hooters or even tropicana will be just as costly if not more than staying at a mid strip location. my top choices for the frugal minded are bally's and flamingo (bally's is my favorite). i am currently booked at harrah's for $25 a night during the week of christmas and also at flamingo for $30 a night during the same week (i can't decide which one i want to stay at, so i booked both and will just cancel one of them later).
oh and be aware of resort fees!! CET properties do not have them (i.e., bally's, paris, harrah's), which is why i stay strictly at CET properties. resort fees might include things that interest you, so make sure to see what is included in the resort fee. and the price is different for every resort (some resorts are $10 a night, some are $20 a night). just make sure to add that fee into the room rate you see online in order to make a fair comparison of hotel prices.
check out smartvegas.com for discount codes (i usually get some really good deals there).
i know tons about vegas and about doing it on the cheap, so feel free to pm me with any specific questions!