I'll agree with Doppy on accomodations.
However, as far as renting a car, I recommend that you do. I was just there last week and Dollar had cars for $14.99 per day. Keep in mind that all hotels offer free valet parking (just tip the poor valet guy/girl a buck or two) or completely free self-parking.
Vegas is BIG and even properties that are clustered together are actually quite a walk from one another.
Plus, if you have enough time you'll want to hit downtown, the Stratosphere for the views...or even head out to Hoover Dam/Lake Mead/Red Rock/Valley of the Fire State Park etc. Just paying one cab fare per day will make you want to wish that you rented a car.
Enjoy! I'll be back on Sept. 27-Sept. 30!!!