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In my experience, Las Vegas rental cars are not strictly necessary for a good vacation. But that's because I tend to stay on the strip, and I like to walk. If you're like me, my advice would be save your money for the tables.
However, if you're going with a family, or you want to travel to see some stuff off the strip, or just prefer the convenience of a car to walking and taking cabs, you'll probably want to get a rental car. Or you may just want to tee off on the various different Las Vegas golf courses. Many of the major cheap Las Vegas vacation packages and show venues are located off the strip, such as the Orleans, the Palms, the Rio, and the Golden Nugget. Whatever the reason, a rental car will give you the mobility you want.
If that's the case, you could wait until you get to your hotel to rent a car (most of the strip hotels have rental agencies in their lobbies), but I would recommend you reserve one online before leaving. That way, you can shop around and get what you want, from the Stratosphere to San Remo. Also, you can pick up your rental car at the airport and drive to your hotel. Or if you prefer something more luxurious and lavish, check out the Las Vegas limousine services selection. Splurge and let your chauffeur do the driving.
Click on Las Vegas rental cars here to reserve rent a car online.