The room is physically the best in the biz. Big room, lots of tables, great chairs, great decor/ambience, and plenty of room between the tables. The location is great--right off the casino floor, a short walk to the sports book, right by the entrance to the Canal Shoppes (easy access from the Strip), and just down the stairs from Tao nightclub (perfect for attracting the late night drunk rich club kids!). The room is done right, and it shows the room is taken seriously, not some afterthought. There is a lot of energy in the room, and it exudes a fun vibe; not at all stuffy/pretentious (like Wynn can be) or subdued/inert (like Caesars Palace).
During my last visit (late December), the room consistently had 20-30 tables going mid-afternoon during midweek, though some of the traffic may have been holiday-enhanced. The V also had an impressive array of games going, including NLHE (1/2, 2/5, and 5/10), LHE (4/8 and 10/20), and Omaha8 (4/8 with a half kill, I believe, and possibly one higher game one evening). This is a real change from my last few trips where the action was mostly 1/2 NLHE, 4/8 LHE, and a couple of tables of 2/5 NLHE. The large number of games made it a fairly short wait for a seat.
A few nitpicks--that @#$% vanilla scent in the air can be a little cloying, some of the felts are getting a bit worn, and the TVs are only viewable from the tables on the sides of the room.
With the large number of tables and constant player turnover, you will see every kind of player style--total newbies, nits, maniacs, drunk trust fund kids, calling stations, and solid rocks. Generally speaking, you should be able to separate the sharks from the fish fairly easily, and there is enough player turnover to keep new money flowing in on a regular basis.
Overall a solid, friendly crew. With a room this size and this busy, there are a lot of dealers, so a few average ones will be in the mix.
Premium booze (Patron, Grey Goose), hot green tea, Fiji water, plus fairly quick service and good attention, it doesn't get any better. I don't grade on attractiveness, but for those who do, you won't be disappointed.
Did a nice job handling a lengthy list with 30+ tables running; they are using floors with earpieces to communicate with the desk to speed up seating new players. Rulings and game issues were handled well.
About as good as you get for a big room. Excellent poker room rate (can save you ~$200), and good hourly comps. No jackpot drop, which I happen to like.