Unless you people have any genius ideas, it looks like i'll be staying at The Orleans.
Normally, i think i'd want to stay on The Strip, since i'm not renting a car. However, the WSoP is being held at the Rio, which is almost a mile West of The Strip, with I-15 in-between (-> no walking). The Orleans is about ¾ of a mile further West on the same road (W. Tropicana). Moreover, in case i don't want to walk in the Vegas sun, they have a shuttle that stops at the Gold Coast across the street from the Rio (and later to The Strip).
The Orleans reasonably cheap ($684.47 for 7 weekdays, 3 weekends, after tax), which is less than half the price of the Rio ($1417), even after their WSoP player's discount. However, by not staying at the Rio i'd be sacrificing the convenience of on-site Chippendales...
Finally, no matter where i'll stay, i'm going to be getting a room with two beds. That way, if any of you want to visit Vegas or, more importantly, me during that time, i may have a free bed for you. No one has yet claimed the honor of sleeping with me, but i have had a couple people express interest. Act fast!