Anya

We're planning on visiting national parks in the southwest around that time and I wonder if it's a good idea to be in Las Vegas on New year's eve. Can we get a not too expensive hotel in the city or close by? How difficult is it to get around the strip? Can we have a good time just walking around the Strip?

FainaAgain

Ouch! Usually Sahara is cheap, but the lowest I see is $259!

Try Expedia search for a different area just to see the price, and which hotel allows one-night stand

SiteC_er

Not unless you like big / huge crowds.

Marginal

If you like drunks, crowds, hugely overpriced hotels, and packed restaurants - yes.

globetrotterxyz

We were in Vegas for New Year's Eve a few years ago and while it was crowded, it wasn't as packed as people make it out to be. Hotels will be more expensive than normal and they usually require more than a one-night stay. You won't be able to drive along the Strip before midnight since it's closed except for pedestrian traffic. I had expected the Strip to be so filled up with people that you could barely walk around (based on what others had said), but it wasn't that packed and we easily found a spot to hang out in front of Caesar's Palace to wait for the fireworks. Other than the fireworks, though, there's not much going on outside (except for people-watching). Sure, it's very busy and some people are drunk and rowdy, but for the most part, it wasn't crazy.
Restaurants will be crowded, so you should make reservations well in advance. Also expect a bit of a wait for taxis.

Gekko

I did it once, won't do it again.

If you do, be sure to have show/concert tickets and reservations -- structure is good in Vegas on New Year's Eve.