In other words, please describe The World's Greatest Carpet Cleaning Convention...
The perfect show would have a tradeshow that had buy-in from the majority of industry suppliers, manufacturers and vendors. One they would make a point of using to showcase their latest and greatest products. It would have "no-sales" seminars that stood on their own (you'd pay to attend even without the tradeshow) given by people that may each bring one nugget of information that makes it worth the trip.
Use the tradeshow/membership income to defray the cost of the seminars to keep the cost down. (Surfaces does it this way.) It would be run by professionals that would find the best rates at the best venues and know the latest tricks to make attending more enjoyable.
Nothing wrong with smaller, more directed events like MF or the CFI conference. Not everyone wants a big bash, not everyone can get away at a particular time.
PS: The reason so many events are held in Vegas is because it's NOT expensive compared to comparable cities. There are direct, low-cost flights from everywhere, the hotel rates are better than almost anywhere else that has decent weather, and there's a lot to see and do that won't cost much at all. The city is only expensive if you gamble or do something that would be expensive anywhere. Although it will travel to different venues in the future, the kickoff IICRCA bash will be held next year in Vegas.