Only the magazines near the Giza pyramids and the Imhotep Museum are guarded by the military.
In Luxor, the military is guarding the East Bank, but on the West Bank, the locals are trying to guard the tombs themselves.
There are no "tourist police" anywhere.
On the up side of things: some digs are still in progress at Amheida (Dakhleh Oasis), Amarna, Abydos and elsewhere. The Abydos people report all quiet so far, as do the Dakhleh Oasis dig. I believe a few excavations are having study seasons in the Valley of the Kings. From what I have heard of those archaeologists, they will defend the tombs with their lives.
For an update on the identification and discussion of the damage in the Cairo Museum, visit The Eloquent Peasant blog If you area on facebook, you can get news from Restore + Save the Egyptian Museum
And very sadly: It seems likely that one of the mummies destroyed in the Museum looting was Yuya, grandfather of Akhenaten. CORRECTION: A British Egyptologist has said that he thinks that photo which seemed to show the mummy of Yuya vandalized was of another (non-royal) ancient Egyptian.
From Discovery News
“The young people organized themselves into groups that directed traffic, protected neighborhoods and guarded public buildings of value such as the Egyptian Museum and the Library of Alexandria,” he said.
“The library is safe thanks to Egypt’s youth, whether they be the staff of the Library or the representatives of the demonstrators, who are joining us in guarding the building from potential vandals and looters,” Serageldin said.From the blog of Zahi Hawass: