I recently got the opportunity to actually do this when we met up with Jill's sister and her husband in Vegas. It is fun! I would wish for (1) higher wave frequency, (2) a longer ride, (3) sand on the bottom rather than grates, and (4) healthy ribs instead of the pain from the SF Taxi Incident.It probably wasn't the best idea to surf the waves here with the pain in my ribs. 
I re-aggravated things to the point that I thought we might go to a Vegas ER on the final night of our stay rather than eat at Michael Mina. But I just toughed out the extra new pain and popping sensations in my lungs. And after dinner, we went to eyecandy to play with the interactive tables.
The reason I went into the wave pool with painful ribs is that I know we won't be staying at Mandalay Bay anytime soon – likely ever.
It mostly has to do with Jill wanting to stay at Bellagio or other high end places more in the center of the strip. Even though we stayed at the Four Seasons @ Mandalay and it was pretty nice. I can't really disagree because being at the end of the strip is pretty lame. But that pool……… <sigh>.