Living in Vegas is definately a unique experience, but I would argue that the bad outweighs the good. Housing prices have doubled in the past two years, while the average wages haven’t changed. Its hard to find a job in most industries, especially tech. Vegas isn’t all the glitz and glamour that you see in the pictures, we have our share of bad neighborhoods and crime, the traffic is getting worse every day, the summers are extremely hot and dry (110F & <10% humidity average), and there is no sense of history or culture. Vegas has a big problem with traffic accidents; you can't go a single day without hearing about at least one fatal accident on the news. On top of all this, a lot of the people here are rude and lack common courtesy.
On the good side, you’ll never hear the words “last call,” and we have a lot of good restaurants, shopping, and night spots (bars, clubs etc.) These things, along with the general 24hr life style, are perhaps the only things I will miss if I ever get out of here.