Rental Car in Vegas?

[blutarski]

I know zippy about Vegas. I hear tell they have some gambling stuff going on there, maybe a show or two?

Seriously, I'm looking at taking my first trip, and me and the little woman will probably want to get out and see the Hoover dam or Red Rocks, and maybe hit the outlets, check out the town a bit.

Is it a better deal to rent a car ( at about 130 bucks for three days) or use public transportation/cabs/bus tours instead? Is a car an unnecessary hassle in LV or is it an expense I'll thank myself later for?

(probably staying at the Luxor or MGM)