Regarding the event, there are the usual forum comments and, of course, Alfred Webre peppering his overview with his usual wild speculations, but nothing from the mainstream, not even Aljazeera. You would think the Israeli press would be all over this. But there's nothing. The Zionists and Muslims are about as tight lipped on this as they could possibly be. All the attention is on the Egyptian revolt.
There are four videos out there that captured the UFO event, so far. More videos will probably surface if this isn't a hoax. In a translation of the first video, the two men speculate as to what the object might be, stating that the air space is off limits and that it's not a helicopter.
The second video is taken by tourists and is probably the best of the two, primarily because it's a closer shot. Yet both videos consolidate each other and make it less likely that this is a hoax. The first video is taken at a distance by what sounds like two locals. The second, below, is taken by what is unmistakably an American tourist.
Here is yet another video, the third, from a different angle with different people witnessing the event.
And on this page Marshall Brain from howstuffworks.com attempts to debunk the whole thing. It also includes an independent video debunking the debunker.
If this was a hoax, it was well orchestrated. Seldom do you have so many diverse people watching and recording the same thing from different locations. Personally, I think the debunkers are going to have a hard time explaining this one away.
Update 2 / 7 / 11: Though it is not conclusive and no one has come forward to claim responsibility, the buzz has begun that this sighting was nothing more than a marketing stunt to promote a sci-fi movie. My guess is that the film makers have jumped on the wagon to get free publicity for their movie. Until there is solid evidence to the contrary, this is still an unsolved UFO incident.