I would recommend doing Petra when you are in Eliat. It's not that far. Plus, it saves you trying to figure out how to get to Petra from the Sinai. In that direction, if I remember correctly, there's a boat that goes to Aquaba. It's real hit and miss, depending on the weather. If you have to go via Eliat on your way back, you'd better have an Israeli multi entry visa as it's expensive.

No intention of bein alarmist :)
Before leaving Egypt last February, I remember talking to expats who were very concerned about those developments in Sinai.
Apart from tourists being targeted, there were also troubles between the tribes and the police and some foreign companies working there.
Now it's been a while since I read anything on the newspapers... I don't know if it's because the situation is much calmer now or if the Egyptian media are simply too busy with presidential elections...

There are quite a few buses from TV to Eilat. From the bus station, take a taxi to the border to Jordan and catch a taxi from there to Petra. I guess you could also go to Amman and down from there?
I went to Wadi Rum from Petra, then to Eilat, so can't help you with the transportation options much....
jjita - No problem. :-)
IMHO instances like the ones you refer to are very rare and often blown out of proportion by the media.
We all know that air travel is the safest way to get from A to B when the distances warrant it, but even a single plane crash makes worldwide headlines. If you read the papers or watch the news after just one crash, you'd think you're going to die every time you fly, but we all know that the true odds are better hitting the lottery than dying in a plane crash.
Safe travels.

We would like to travel overland from Cairo to Taba and then on to Jerusalem, (and back a few weeks later). Can we take a taxi the whole way? How much would that cost? Where are the best places to get long-distance taxis in both Cairo and Jerusalem? Are there taxis that would fit 5, with some carry-on suitcases? If we got an Egyptian visa coming into Cairo, can that be used again on our way back? We've heard the trip across Sinai is a bit dubious now. Is that only in the north near Gaza? How long should we allow for the trip total, including border crossing?