Hotels around the Sharm area work out like this
All Inclusive are away from the main street in Naama Bay as the hotels want you to stay in (this is from an Egyptian)
the Others vary in as much as the nearer to the middle of Naama the more expensive they become so you want to stay in to get your monies worth

Basically find one that gives you what you want and go there

Most hotels on the Beach fronts have sea views for all their rooms
Some Hotels are not on the beach so check first
most hotels out of Naama Bay area operate courtesy coaches free

Personally we go either Ras Um Sid or Sharks Bay at present though we are considering Nuweiba this year

Hi
Generally the further away from Namma Bay the more sensible it is to go AI. I think if you are going to stay within walking distance of Namma Bay you may be better off going B&B, your hotel will have restaurants you can eat in on a pay per meal basis anyway if you dont want to go out, or alternatively you can walk into Namma Bay to all the restaurants there, and you wont have to get taxi's in & out each night.

Can't recommend personaly, but two B&B hotels in NB I've been looking at this week are the Hilton Fayrouz (beach side) and Hilton Sharm Dreams(across the main road). They share facilities. You would need to read the reviews but most of the ones I've read this week were good.

The two AI's that seem to get the best reports are the Hilton Sharks Bay and the Coral Sea Resort (only First Choice/Eclipse do this one). With both of these you would need to get cabs in and out of NB.

The Coral Sea has its own thread on here somewhere. Good Luck.