Yes Docholly, rates at the Luxor are reasonable.
Try using Travelocity and booking your airfare and hotel. I actually got a little better then the Luxor posted rates even though the last day there is an increase in my rates. It was like that no matter what I tried. Remember the Travelocity rates also include the taxes which many other quotes do not.
They didn't reserve enough rooms at Mandalay. I wouldn't be surprised if over 1/2 of the Mandalay is not convention goers
