Ive read numerous threads about whether or not you can take cameras into the valley of the kings. As I just got back I can advise that you are not allowed to take cameras into the valley of the kinds nor are you allowed to take photos on the road up to the valley of the kings (past the souvenir stalls and entrance admission). You may be asked if you have a camera at the official entrance gate to the VOTK and if you say you do then they will hold it and you will get it back when you leave. I got to the VOTK early and was the first one there. My camera was held but I did notice other people after the first hour walking around with cameras around their necks. It seems to be an ad hoc rule.
Going by the tomb guards constant requests for Baksheesh Im sure that you could pay baksheesh and take photos - as you seemed to be able to do everything else for a few pounds. I refused.
They will also want Baksheesh for holding your camera for you. I declined.
Egypts history isn't in great hands.