Probably the best all around value Steakhouse in Vegas - IMO. With coupons, discounts, and comps last year I got an appetizer, entree, 2 sides, dessert, and wine for $1.98.
My Filet Mig was as good as any downtown...albeit thats not the most challenging dish to cook. The menu is not creative in any way...but they use high quality ingredients and put out dishes that easily make the "fine dining" echelon. I've met very few people who have been disappointed with a meal there.
They did a refresh of the ambiance a couple years ago. For me, its perfect. Its elegant enough to create a nice atmosphere without being pretentious. Not too much of a dress code. I typically wear jeans and a casual shirt. Thats about the same as most diners there.
Are there higher quality joints in town? Yes. And they will certainly be more expensive too.