The penalty is stiff as hell, like a $27k fine. Not only that, but you must also keep your FAA drone "license" on you at all times. As for who will enforce it, that depends. If the FAA authorizes local police to enforce it (and gives them a cut), they will start carding anyone they see with a drone controller, and god help you if you accidentally crash your drone into your neighbor's backyard.
Well everything you said is absolutely correct. Definitely a shame. I've been flying r/c and autonomous aircraft for many, many years now and will definitely rethinking flying drones any longer. Though it looks like they will do away with fixed wing pleasure down the road.
Fly below 400 feet and remain clear of surrounding obstacles
Keep the aircraft within visual line of sight at all times
Remain well clear of and do not interfere with manned aircraft operations
Don't fly within 5 miles of an airport unless you contact the airport and control tower before flying
Don't fly near people or stadiums
Don't fly an aircraft that weighs more than 55 lbs
Don't be careless or reckless with your unmanned aircraft – you could be fined for endangering people or other aircraft
The above rules are for all other aircraft. Which rules out everywhere in the Las Vegas valley.
Sorry to takeover your thread Jaydoc1, but I think you can see the writing on the wall. Stick with the indoor small drones.