We did it north to south in one shot (no camping in the canyon or staying at Phantom)
We did the North Kaibab to Bright Angel route, which was great
We were glad that we got on the trail super early (our first few miles were in the dark) so that we hit the hottest part of the hike before the heat of the day
We were glad we had lots of snacks
You will need plenty of water, but there are places to fill up your hydration pack in the canyon, so you don't have to carry too much at one time. We were glad we had a light filtration system (I use a Sawyer Squeeze) since they were fighting some contamination issues below the rim.
I was glad to be wearing trail runners instead of heavy hiking boots. I was glad to have good sun protection (hat, light buff, sunglasses, sunblock, etc)
It is challenging, but not too bad if you are in good shape. If you do not regularly run/hike long distances, I would consider working up to this experience.
There will be moments in the last 5-6 miles when it looks like you are almost out of the canyon even though you are not even close. I could see some people getting discouraged and running out of gas in that stretch. Not a big deal, but something to be ready for and it won't get you down.
One of my favorite all time hikes. I hope to go back and do it again soon. Have fun!