Hi,
A little bit of mixed responses so far! however, for me, I agree with Chary in so much I've never had an issue nor felt unsafe around the Stratosphere. I've only actually stayed there once for about 9 days and during that time, I did plenty of walking from the hotel to the convention centre each day a trade show was on. I also drove around as well. The hotel itself I found very good, it's clean modern and new. I like a little sense of adventure when in the USA, and I can see that some of the surrounding streets to the Stratosphere do indeed look a little dim and potentially dangerous - I only saw them from the car, didn't walk around!
For me, I always do Vegas (so far) on the budget, and I was there about a month ago. The big hotels are fantastic, but I'm never at the hotel except to catch some sleep, so I can't be bothered paying their rates. I paid just £97 for 5 nights at Americas Best Value on Tropicana and it's directly across from the MGM grand - i booked via Lastminute.com. On a previous visit, about quarter of a mile again on Tropicana but over the highway junction, I stayed at Wild Wild West/Days Inn and that was also something like perhaps 140 or so for like 7/8 nights. Once I'm making more cash, I will perhaps up the hotel I stay at to one of the expensive ones just for the experience for now it's not worth it to me!
Temperatures were hitting up to 98F on the 3rd weekend of April, so I was loving the weather whilst there, but I wouldn't want to be cycling out there as it's probably hotter now!
For your plans, Vegas is Vegas, there's plenty to do and see so depends on what your interests are. Friday and Saturday nights were busy but again, depends on what you want to do. As it's your first visit there, I think the usual stuff will apply - Bellagio water shows, walking up/down the strip, freemont st experience, helicopter ride to the Grand Canyon etc etc. I can recommend the buffet at Golden Nugget - I literally 'rolled' out of that place one time I scoffed so much! I don't gamble but I set a limit of $50 to play some machine and got the free alcohol whilst playing. Plenty of shows as you already know and lots of places to eat - the restaurant up in the Stratosphere is very good too
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I'd also say 2-3 days isn't really enough to see Vegas for the first time a week would be better.
Cheers, DtM! West London & Slough UK!