I lived out there for 8 1/2 years and I had an awesome time.
There's a ton of great places to eat, owned or run by chefs you've seen on TV. You mat want to check out the Vegas.com site to narrow down your choices based on what you're looking for (i.e. price, location, etc.).
Something I learned while in Las Vegas is that a ton of cheap/free stuff goes on all the time, you just got to be wise to it. Here's a site that could help you this summer (BTW, don't click this at work unless you won't get in trouble for girls in bikinis on your screen):
http://www.spyonvegas.com/
That site will tell you where free concerts and open bars are at this summer. I used it while in Vegas, and it was awesome. They're almost a lock to have a few events at the Hard Rock pool at night, which is usually pretty fun. I'd highly recommend checking it out.
If you're into crazy rides, check out the Stratosphere. At that height, even simple rides can get your heart pounding. Most people like the "Big Shot" but there's a few other rides that they've added in the past few years that also seem to be popular.
I'd write more, but I have to go to work. I hope you have a great time out there.