My favorite has been the breakfast buffet at Paris. Stay away from the Hilton at all costs...
I think the last few years have seen a shift of emphasis away from the buffets--although they are still offered as the traditional Vegas value feed-trough--and to fancy-schmancy restaurants.
I suspect this serves two purposes. The first is surely profit-driven: where the buffet is likely a loss-leader to get people in the casino, the places like Steakcraft can turn a decent profit. The second would be to offer dining opportunities for the high rollers that allows them to eat away from us peons

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I like finding the special deals in these restaurants, for example the $12.00 steak & crab legs I had at a place in Paris last summer, or the unlisted $5.95 steak & shrimp dinner at Mr Lucky's in the Hard Rock (I think this just went up $2.00).
JP