I've crossed into Israel at this particular border point, around 5 years ago, and yes it was one of the hardest border crossings I've ever done, we were part of a tourist party who were going to be in Israel for around 30 minutes (a quick drive through Elat then out into Jordan), and its not somewhere I would take anything bigger than a camera I would even if I could empty the card before I went through.
Everything was Xrayed, the metal detectors were so sensitive every scrap of metal was detected, a few people having to remove jeans with quite a few studs, your personal property was swabbed and checked for explosives and then once through there you were grilled about your personal details at passport control, quite a few people getting long grillings. All under the watch of guys with automatic weapons. It wasn't a place you made any kind of joke, you do exactly as you are told.
At the time I though it was overkill then a week later this happened
http://en.wikipedia.org/wiki/2004_Sinai_bombings, a terrorist attack aimed at the Israelis pretty much at that border point (although on the Egyptian side), kind of puts it all into perspective.
Saying that since that border crossing, I am a lot more careful what I take with me, laptops and cameras fully backed up, and only take essentials, even bought a travel laptop so my main machine would stay safe at home. Everything electrical packed into one easy to search bag.
Jen