I have been there and think it's WAY OVERPRICED. If you aren't a NV resident it's a $20 cover on weekends and and the drinks aren't poured very strong and are expensive (IIRC, when I was there three years ago I paid $10 for a screwdriver with well vodka that was week). It was a nice club but I felt old there (I was in my early 40s at the time). I would be willing to go back though if they didn't have that expensive of a cover.
The bar scene in vegas sucks though. On a Friday or Saturday Krave is the only bar I realy like, and the location is convenient.
If you are there on a Sunday night I would recomend going to revoluation at MGM instead. Can't remember if the cover was $10 or $20, but I liked the crowd a lot better and the drinks were better and cheaper than Krave. They also had these boys going around passing out shots that were free you just had to tip on.