My partner and I were lucky enough to have booked a two week 'cruise and stay' holiday, very last minute (less than one week before our departure!), with week one on the Thomson Celebration 'Red Sea Cruise' (from Sharm-El-Sheik) and week two at Nubian Island resort in Sharm-El-Sheik. The whole experience was wonderful! Perfect weather every day, the ship was of a good standard, great food, we dined mostly in the Meridian restaurant and definitely worth a visit to the Mistral restaurant too. My partner is gluten free and he was very well catered for with his own menu at every meal.
We did a lot of excursions the first week; Wadi Rum, Petra, Cairo (from Sokhna) Nile cruise, Giza, Luxor and the Valley of the Kings, it was busy but very worth it! We spent about £700 (for the two of us) on the excursions, which seemed a lot, but it was definitely worth it. Yeah the ports are 'industrial' but your in the Middle East not the Caribbean!
The staff are so friendly and I couldn't fault the experience. I had read some negative comments on cruise review sites before the holiday but I just thought they were about other peoples expectations and I'd go with an open mind and I wouldn't let it impact my experience, it worked for me.