I've ridden the bus all over Vegas, I like it, we don't have efficient public transit where I live.
Fremont4ever provided helpful advice. To that I can add:
Don't ever ride the Deuce. It's too slow and designed for the clueless. Ride the Strip and Downtown Express. It stops less, is fast, kinda cool as buses go, and has stops both directions on the northeast corner of the Golden Nugget. Here's the SDX schedule, good through Sep. 18. As you see, it runs every 12 minutes for most of the day and evening. Before you board, buy a ticket from a machine at the stop. You don't have to show it to anyone unless asked by a bus system employee. You can board and exit any door of the bus.
The Vegas bus system has done a good job entering its routes and schedules into Google Maps. Learning to use that is fun and helpful.
For a quick trip between downtown to the MGM Grand-NYNY-Tropicana-Excalibur corner, try the Westcliff Airport Express. It's just a regular bus, so it's just $2 to ride. It runs every hour or so but takes the highway and makes the journey in just 30 minutes.
You've made the right choice, especially since you'll be drinking.