I love would such a simple wedding. I probably wouldn't do Vegas though; rather, something more exotic and interesting. I've thought about doing everything from Point Lobos in CA (it was one of our first vacations together) to an island somewhere. I'd take just my very close family and that's about it. I honestly wouldn't mind if it was just the two of us.
I'm going to end up having two weddings in two different countries, and each is going to be expensive and stressful. To me it seems silly, but when the woman you love has spent so much of her life being told what is a "proper" wedding and dreaming about it, you really don't have much of a choice.