No I would not risk travelling there. I'm not sure how you would go on with the FO advice and insurance etc but then again I would not even look into it that far.!
When we went, a while back, and visited the Tutankhamen exhibition there were lots of demonstrations going on in the squares around the museum. The police building next to the museum (or offices) had been petrol bombed etc and I remember being rushed through as the crowds were getting bigger and more than just vocal.
Not worth the risk imo and even if it was politically more stable it must have been one of our least enjoyable holidays, food was carp and very poor hygiene in the hotel we stayed.
Usually if the area is green on the FCO maps insurance will cover it. You'll need to take out special insurance of you want to go to an "all but essential travel" area.
That aside, poor food and hygiene is part of the course of going to what are essentially developing countries. You just have to get used to it and avoid anything less than a 5* (African standard) hotel.
Exactly why you shouldn't go. The price is what is because of the risk factor involved. Travel companies know it's not popular right now, for good reasons of safety, so are trying to flog it. There are other places that can offer the same price, accommodations, weather and you don't have to worry about terrorists.
Less "risk factor", more "perceived risk factor". The FCO are very conservative in their recommendations. The tourist areas are a very low risk but the public perception is that they are high risk. The positive for those that actually understand this and follow FCO advice is some really cheap holidays with few tourists at world class historical sites.
I first went in 2003 and it was eye opening to see all the police/military with weapons, metal detectors and armed guards at hotel entrances and armed escorts to various places. I went again in 2013 to Hurghada on a diving holiday and it again was fine, with what seemed like less armed presence around.