I was in Egypt four weeks ago (my third visit). Staying in a very laid back beach camp north of Dahab about an hours drive or so from Sharm.
Sharm is pretty chilled and can be a lot of fun at night with a mixed crowd of people. Its good value for money and will only cost you loose change to sit at a cafe, smoke a hookah pipe and watch the world go by. The snorkeling and diving around Sharm and Dahab is some of the best in the world, and the trips out into the desert are very atmospheric. Last time I went i rented a quad bike near Dahab and went out to a desert Beduin camp under the stars (cost £10). Yep - the night sky is superb.
The Egyptians are a great bunch of people. Very friendly and ready for a laugh. But as always there are a small percentage who are focussed on getting your money or your woman, so keep your radar quietly active and avoid them. There is A LOT of weed in Egypt, and occaisionally some nice hash. Be sensible about where you smoke it as you do NOT want to get involved with the police out there. Maybe have a chat with some of the likely looking guys who work at your hotel.
Three times I have been out, and three times I have been ill. It seems unavoidable (especially where I go which is very basic). In truth its no big deal, just take a good supply of immodium. It will be cooling down a little bit now, but can still get very hot in the day so also watch out for the sun.
If you like snorkelling then think about buying your own mask (either at home or at the resort) as you want something comfortable and a good fit to really appreciate the experience. I have been out on a dive boat from Sharm to Ras Mohammed and would definately reccomend that (cost about £40). It is also half the price to get your PADI (scuba licence) in Egypt than anywhere in Europe.
Have a great & wonderful time
I can only afford 1 week so I wanna make the most of it 
We are staying at an all-inclusive resort thats right on the beach 
so going to be spending a lot of time snorkeling, we are hoping to stay on the resort for the whole week so we can keep spending money down. We do like the look of one trip out though, its a trip into the dessert to a place where they got some good telescopes to show yer saturn and stuff, they say that the stars look real good out there due to the lack of light pollution.
I av not been on a plane for over 15years so its long overdue 
lively nightlife