There's been a lot of discussion recently about this road, so as a regular user, I thought more information might be useful.
The road runs along the west bank of the Nile. I usually stay on that side when I'm in Luxor, as it's easier for me to access the sites, so it's the logical route for me travelling to and from Aswan.
The road is quite rough in places, but Tarmac does occasionally make an appearance around the large towns en route, particularly at Edfu, but that's about it. A multi-lane highway it aint!
Here are some photos that I've taken on my trips along the road:
As you will see, there's a lot of dust being thrown up! The driver always has to have his wits about him, due to the various hazards that can appear without much warning, but it's always a very entertaining drive! LOL
There are checkpoints where sometimes money changes hands, but not always. I'm lucky in that I have permission to visit some closed sites, so I just use that.
I have known tourists being turned back as they leave Luxor. They reach the checkpoint and that's it, they have to go all the way back to the city and return to Luxor via the eastern road.
So my point is that if you do decided to use this road then make yourself fully aware of what to expect.