I went with my gf a couple of years ago. Saw "Mystere" and "O" by Cirque du Soleil. O was by far the superior show. For things to do, Theres the pirate show at Mandalay Bay. The volcano at the Mirage, and the dancing water (every 15 minutes) at Bellagio. You can tour the Venetian on a gondola. My gf used to live in italy and she was very surprised by such an authentic copy of the Piazza san Marco. Just so you know theres an express bus that goes from resort to resort on the strip without stopping at all the stops in between.
As far as restaurants, not so cheap is "Tsunami" and more reasonable is "Noodle Asia". I'm pretty sure theyre both in the Venetian. With all the good restaurants there are in Vegas we went to Noodle Asia on more than one occasion. Tsunami accepts reservations online
here. And a few reviews of Noodle Asia
here. They have a steamed wonton appetizer that comes in a spicy red sauce, I cant recommend that enough. I didnt like Wolfgang Pucks. Tsunami and Wolfgangs were really all the fancy eating we did.
Oh, and if youre undecided, dont stay at the MGM Grand. Our experience was less than wonderful (and for the money the rooms cost in those places, it should be wonderful). I have heard great things about the Aladdin, though. No room is more than 7 doors from an elevator (!) and theres broadband in the rooms (for a fee, prolly).
I have a small tour book for Vegas if you want to borrow it I can send it to you. Its the Las Vegas Mini Rough Guide. You have to promise to send it back, though. I have another one I cant find, but will look for again...