You can't go wrong hanging out at the front railing at Margaritaville for some cheap laughs. Just watch all of the drunks walk by for a while. Then follow the drunks around the corner to the outside bar by Harrah's if the weather is nice. There's a piano bar a few steps away just inside Harrah's. LOVE is playing across the street if you want to catch a show. The Forum Shops are across the street at Cesar's Palace if you want to shop. More upscale shops are just to your north at the Venetian/Palazzo/Wynn/Encore. VERY upscale. Be sure to see the free outside shows at the T.I. and Mirage while you're up there. (Mirage has fire and drums. Fire! Fire! Fire!
) The best outside show is the fountains at Bellagio and the best place to see them is from the Eiffel Tower at Paris (at 8pm). If you go west on Flamingo, check out the buffet at the Rio. It is supposed to be the best. Then go party right next door at the Palms. Take the elevator to the Ghostbar and get a jawdropping view of the Strip at night.
Strip clubs; check TUSCL. You'll need a 'sheriff's card' to dance. 18+ juice bar I'd go with DejaVu-LittleDarlings. For 'down n dirty' classic Las Vegas I'd head to Olympic Garden. They also have dudes upstairs, I'm told. For a local flavor, go to Cheetah's. For an authentic mobbed-up strip club experience head to Bada Bing's. PM me if you have questions. Mostly, you just need to know where NOT to go. And don't ask the cab driver's what's good. They get paid more to take you to the worst places.
I like the indoor gokart racing. Have a few drinks and get behind the wheel. Wooooo!
From what I've read, all of the local strippers go to some huge gay dance club so they don't get bothered by horny straight guys on vacation. If you like girls or like dancing&drinking, then you should look into this.
Just be careful and don't go wandering around the dimly lit areas around the downtown area late at night. Have fun!