Right now Aladdin is going through the transformation to become Planet Hollywood. I get their e-mailed deals, the last one was pretty good as I recall. In the $125 or less range, which is good for being in the heart of the strip.
I've stayed there, at the Flamingo - lots of Seniors there, Monte Carlo, the Hard Rock and the Rio. One nice thing about Aladdin is that the elevators to the rooms are actually in the hotel lobby so they don't make you walk the length of the casino every time.
HR and Rio aren't on the Strip, but they're close. Hard Rock is probably the best hotel for the sub-40 crowd. I like the Rio since every room is a suite, you can get good deals on their website, or by calling them. They also have a free shuttle to Harrah's - their other property, which puts you in the Convention Ctr., Venetian, Caesars, Mirage area.
I personally don't like NYNY since their rooms are small. And the Palms is the current "in" hotel so their prices reflect it.
If you don't have firm dates to be there, go when there's a minimum of conventions in town. The rates double or triple those weeks and everything is crowded starting with the wait at the taxi stand at the airport.