Marc, when we went to Luxor/Valley of the Kings (World Cruise in the good old days) it included an overnight with 2 full days. Even then I'm sure there was lots we didn't see. Are you offered any kind of overnight? If so, I'd highly recommend it.
If not than I think I would opt for the exclusive...tough call, both sound good. I wish they were sending you with a nice box lunch you could eat on the bus. I didn't like the sound of nice "leisurely" lunch when there's so much to see. Advice: Don't get on a bus with a bunch of mobility challenged as Regent doesn't always enforce their own guidelines.