Unfortunately the night club part of Lavo closed at the end of 2013.
Pricing and services: Lavo is actually a restaurant and lounge during the day, but night club at night. This page is specific to the night club as I've never visited the restaurant. Lavo is a pretty popular club so expect typical Vegas club lines, cover charges and drink prices if you visit; i.e. ouch, but what'cha gonna do, it's the same everywhere. If you know someone who can get you past the line, take them up on it, it's worth a visit.
Wednesdays (as of spring 2012) are old school day, which has been going on for over a year so chances are it will continue for a while because it was packed when I went in March. You'll frequently find big names from days gone by performing, Das EFX was there the night I was there, they ran through several of their hits from the 90's and then hung out the rest of the night. I noticed Run from Run DMC was booked for a couple weeks after we left. We had a great time. If you're thinking about bottle service, keep in mind that there are no real isolated vip areas, so you may have to contend with a fairly crowded environment. If you are looking for a true VIP area, I suggest Pure at Caesars.
People who have used this vendor (sorted by date) and link to the review:
TK threads mentioning this vendor:
Pics from my March 2012 visit:
Entrance-way heading to the third floor:
The lounge (open until about 11pm):
View from the DJ booth:
Das EFX on stage: