Staying on the strip is cool if you want to hit all the casinos or just stay in one. The Rio and Palms are better if you don't want to deal with traffic or are cabbing / limo'ing it. Either way, will be happy to play local host although I'm not a big "party on the strip" kind of guy (or gambler) so don't know all the hot spots. I do have some (younger) friends that are more familier with whats hot. Maybe I'll venture out for some fun. Nothing like having a hot blond for a wing man!
Pretty dialed in on the Mead though (and Havasu) if you want to do that.