We stayed at the Mandarin Oriental for about 4-5 days in December 2011. The hotel building, though (almost) on the strip is a bit obscure. But the hotel's exterior belies the grandeur that lays within! The reception area has magnificent views of the strip. The overall decor was understated, yet stunning. The room was very modern-chic, and the bathroom was luxurious! Needless to say the hotel and the room, both were spotlessly clean. The front desk staff was very helpful, and the concierge went out of her way to get us a great deal on a one way car rental.
The hotel does not not have a casino, which is a good or a bad depending on what you're looking for. But even if you do want to try your luck, there's plenty of casino options within walking distance. There's a CVS 2 minutes away, which was very convenient.
My only gripe was that the hotel did not have a casual marketplace type of cafe. You could buy coffee to go, but only in the mornings. The tea room next to the reception (I forget what it was called) was great, but not really appropriate for a casual cuppa with snacks. I almost took a star off for this reason. But all in all, I highly recommend the hotel.More