The Highway Stations serve a very good purpose. Their "base" audience is the traffic on both I-15 in and out of Las Vegas and I-40 in and out of Laughlin and the Colorado River/Needles areas. The vast majority of the traffic is from the Greater Los Angeles area. Annually, The Highway Stations deliver an audience that exceeds the population of the city of Los Angeles (over 4 million and counting). That is why when the stations first started up in the 80s, their advertising brochures included this quote by the then-owner: "I'll sell you Los Angeles for $29.95" That was the original cost of a 60-second spot back then.
Maybe things have changed, maybe not, but last I knew, both stations were a simulcast, therefore no need to listen to both frequencies. Being in the "no-man's-land" in the desert between the SoCal metro and Las Vegas, there are fewer stations that come in clearly so the Highway Stations have fewer competition as a result.
I would gather that they bill well enough to be the envy of many stations in both the Greater L.A. and Vegas markets. The Highway Stations were a brilliantly conceived idea.
I don't know about their holiday music policy.