Best place to stay on the Las Vegas strip for under $75/night?

I am going to Las Vegas with friends for the week of Feb. 21st.. (Will be staying Monday & Tuesday night)

I’m bring 6 friends, so I’m looking for a fairly large room that’s within walking distance from the strip..
I’d like a place like the “Cancun Resort”, but that’s too far away.
Any ideas?

Just booked at Harrah’s for June and got a great deal on a room and flight via Continental vacations. A word of advice from someone who has been to Vegas…Circus Circus is cheap, but a dump, Stratosphere is waaaaaaaay away from the action, it would cost a fortune in cab fair. I have stayed at imperial palace and it’s cheap, but dated and very smoky but it suited us just fine. Harrahs is right smack dab in the middle of the strip and all the action and there is a monorail stop in the hotel which is very handy and will also save a bunch on cab fair. Don’t stay off the strip, you will regret it. There is lot’s of walking involved to get anywhere in Vegas and when you want to get back to your room at 2 in the morning for a quick power nap, you will be glad that you aren’t that far off the strip.