I have not played at a Harrahs lately, I am going on the information posted at another site.
For slot players, you'll earn more bonus points than base points but each of them is 100 =$1. A typical slot session might result in 200 base points and 500 bonus points while a session on a full pay VP machine might look like 200 base points and 5 bonus points.
While the comp payback schedule intially appears weak, it is augmented by Reel Reward coupons and multipler days. Throw in the free room offers and Harrahs has a pretty good players club. The best part being that play in AC can be used for freebies in Vegas, or any other Harrahs worldwide.