We came to Vegas for our 30th anniversary in December and you can read the reviews about the Bellagio and Venetian. So, how on earth can I compare these with Bill's. To be honest, I am getting very tired of "business" and so called luxury hotels. In general they are varying standard and take about 15 mins to get from your room to anywhere.
I read a lot of the reviews - in the UK we have the travellodge and it is very comparable. We have stayed there now for two periods of a few days and will be going back for our last week
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Tips

**** Park yourself: Third floor is once more round the spiral and saves scrabbling for spaces on 2 which is where everyone else goes. There is no valet parking, but the distance from self park is the same as Bellagio's valet parking to the front desk - so long as you park close to a lift.
*****Short Distances: Bring your cases down to the lobby and take another elevator up to your room with perhaps 2 mins walking. Compare that to a walk through the casino in almost every other hotel - yes you are still in the casino - and have to pass perhaps 4 slot machines on the way.
*****Bring Slippers: Beds are reasonably comfortable and, being very fussy, I have not had any issues with cleanliness in the rooms except for the carpets. Yes the furniture is old, but bring a pair of £1 slippers and have a look at them after 5 mins and you will be glad you wore some. Honestly though, do you ever walk without slippers - I don't regardless of the quality of the hotel. It is cleaner than several of the rooms in the Flamingo next door - and I will never stay there again!
*****Wallmark coffee machine (about $9). The booze is cheap but coffee on the strip is expensive. These machines pay for themselves after 3 or 4 cups. Although Bill's is right on the middle of the strip and there is lots of booze around, coffee was harder to find (except in buffets) though you can get some in the cafe downstairs. Having said that, we also bought one when we stayed at Bellagio due to the distances involved.

Things I wasn't so keen on

*****Noise - from Flamingo's on the Friday and Saturday ( but not in the week so much). We were on that side of the hotel and it was fairly annoying, but then you get what you pay for. I would imagine that the strip rooms are also fairly noisy with the road works at the moment, but that would be true of any hotel with strip rooms.
*****If they overbook, they take you to Flamingo's. I would never stay there - see my review why.

Things I Liked

*****Helpful and friendly staff. Never had any issues, even when we left a phone charger.I read some derogatory comments in some of the reviews but I can honestly say all the staff we encountered were excellent and very pleasant. I think that some of them may have a reserved nature, but if you are nice to them, they certainly are nice back.
******Short checkin lines --- of precisely us. We looked over at Bellagio's to see what their new garden display was, and to be honest, every checkin was open and if I had just got off a plane, I am not sure I would have liked to join a queue of 15 or so people. I was shocked, but someone I was meeting booked into another large hotel and waited about 30 mins.
******"Reasonable costs - read cheap. I always booked through their site as I have some particular medical needs which are very easy to annotate.
*******Very short queues: except for the main bar and cafe at peak times
*******Cafe: The special steak and eggs is ok - also comes with hash browns, coffee and toast. Miracle mile which is close also do breakfasts. There is a good range on the menu, but top prices are about the same as some of the buffets.

Good or bad, you will always find I am very honest and sometimes a tad blunt. I write it as I see it. My wife and I were very happy at Bills and will be going back for another week before we fly out. We thought of trying TI only because it has a buffet and is also cheap- but then the Bellagio is about 5 mins across the road and that has the best buffet on the strip (TI buffet is also good, but the Luxor has gone down in quality when we went there a couple of weeks ago). We will be booking Bills again for the final week and might go to Bellagio's just because....for one or two nights before we go. Of course 1 might in Bellagio costs about the same as a week in Bills.

bill's ain't no glitzy vegas hotel, but you only get what you pay for, after reading many reviews we decided to give it a try, found it great value for money ( read cheap), right in middle of strip, found staff generally accomodating and friendly, yes rooms decor abit dark and retro victorian furniture abit off putting at first but room clean and tidy, great big flat screen TV although the american tv obsession with adverts and weather every 3mins does your head in! and good powerful shower what more do you need?, you do get some strip noise but what do expect! yes air con noisy but it always is?, only gripe i found loo paper rough as the stuff you had at school!! take your own?, its a small 70's era vegas hotel with no pretensions and maybe all the better for it, checkout sin city brew co in planet hollywood miracle mile mall, great bar great beer!.

Bill's is in a great location. It may lose out on some facilities because it is a small hotel, but makes up for it in spades because there was no queue for check in (on Friday afternoon), or for check out. Some of the other queues we saw in other venues had 20+ people waiting.
But back to location. It is right on the cross roads with Bally/Bellagio and Caesars, but wins out as it is only a minute from your room to the strip. Hotels like the Bellagio have the lobby way back from the strip, with the rooms even further away.
From Bill's you can walk over half of the strip easily, which was a real bonus.
Steak and Eggs for Breakfast, served from Midnight, was a bargain at $7, although there was always a 10+ minute wait to get a table, seemed like most of the time. Just put your name down and grab a beer..... They announce tables on the casino wide PA. We had a view of the car park behind Bill's but you don't go to Vegas to stay in your room. Otherwise it was the best value hotel we stayed in during our 10 day break in West Coast USA.
Only regret was we never made the free Craps lessons at 10.00 in the morning!

I recently spent 1 night on the strip in Bills. I had a very good experience from Valet to check in. The room was large, clean. the furniture was Vintage style. Many have said it was "dated" but it is just not modern furniture.

The WC was in the same room as the tub, the sink and clothes rack were seperated by a door to the bathroom. There was also a pocket door separating the entire bathroom from the bedroom.

The room consisted of a large comfortable bed, two night tables spaced about a foot away from the bed on each side, 3 drawer dresser with a flat screen tv-possibly a 36 in. There was a desk with a straight back chair, dining talbe with 2 straight back chairs, Wi-fi was available. There was also one more chair in the corner. One think that I felt was lacking in the room was a stuffed comfortable chair. I enjoy sitting and relaxing in the room and not on the bed or a straightback chair.

I had a partial view of the strip but was opposite Ballys The next morning I went to the Victorian Room for a early morning "breakfast special". Food was good, but I felt $16.00 was high for eggs, bacon, toast, coffee and juice.

The casino was laid out nice, and the Big Elvis show was entertaining.

I would consider another stay at Bills in the future, and I will recommend it for someone wanting to stay center strip in a clean, small hotel.