Yeah from what I've heard lately, XS is the place to go right now. My last trip was in the summer. I went to Tao at the Venetian, and frankly I thought it was overrated. The venue was really nice, but the line was way too long (I know they do that intentionally to get people to buy bottle service, but seriously this was worse than usual) and it was also way too crowded. You want a place that is popping, but not so packed that you can't even move on the dance floor.
Too bad you're not going in the summer, since I've always had a lot of fun at the pools.
Vegas is designed to take your money as quickly as possible. You'll have a lot of fun, but be prepared to budget for it.