. I think it is economically not feasible to fly from Vegas to DL.
Flying is not necessary. It's an easy drive as long as you avoid the times mentioned.
Vegas Hotels - I am partial to Wynn/Encore or Venetian/Palazzo personally, but the hotels on the strip are all generally nice hotels. I think if you can get a good deal on any of them, you'll be fine. I probably wouldn't stay at Excalibur or Circus Circus though. also Stratosphere is kind of way out there, the location is not all that great. As a budget "I just need a room" kind of option, my friend said he thought the "Station" hotels (Palace station, etc) were decent, but they are off strip.
Shows - if you like Cirque, Vegas is the right place to be. I've seen most of them (including La Nouba), and I think different people will have different opinions on which one they like. my buddy likes the Beatles and Michael Jackson due to the music. I liked O I think, it has a water stage, but to be honest I don't find them all that different. There's also a show called La Reve in the Wynn that is similar to Cirque du Soleil which was also good. The theater is smaller and a bit more intimate. I've also seen David Copperfield and Penn and Teller there (like I said, I like magic shows, lol), Blue Man Group, Phantom of the Opera, probably some others I don't remember.
Transportation - You can rent a car obviously, or take a taxi. The hotels on the strip used to all have free valet parking for everyone (not just hotel guests) but I've heard this may have changed. I typically take a taxi since I don't usually leave the strip (I actually rarely leave the Wynn/Venetian area). Its a bit of a hike if you are going from the north strip to the south strip, so you may need to drive in between hotels to shows and such. If you take a taxi from the airport to the strip, DO NOT LET THEM TAKE YOU ON THE HIGHWAY. It's the biggest scam in Vegas. What should be a $15 cab ride becomes $35. There are also buses that go up and down the strip, as well as a monorail (but I would not recommend the monorail as a serious mode of transportation since the location is not convenient). If you are leaving the Strip, you will want to rent a car.