I've been there a few times. Not all that exciting. It's pretty much just a piss stop in the middle of the desert, till ya get to Cali..... ...
TI's pretty nice, they just redid the pool area, and put in a night club. MGM, Venetian, and Bellagio also have night clubs in em, that are open just about every night of the week.
Strip clubs, toss a quarter, your bound to hit one. Just about all of em have decent chicks...
If your into sight seeing, Hoover Damn's about a half hour out of town, or Lake Mead(largest man made lake in the US...i know, woo hoo... ) or you could go to Red Rock Canyon..rock climbing, jeep trails, picnic areas...
if your gonna stay on the strip, i wouldnt walk past the Stratosphere(at night)....it gets kinda "shady" in that area...
Motorsports- There's the speedway, and even if there isnt anything going on, Shelby(Carol) has a shop out there. Some pretty intresting cars on display.
oh and pahrump is only 45 minutes away (legal prostitution)