The loop you've suggested sounds great (I've done almost all of it myself on various trips), but I'd make sure to have a few extra days to spend in the Eastern Sierras, on the little roads and trails leading up into the mountains from Highway 395 (which you'll need to take to go from Death Valley or Las Vegas to Mono Lake anyway), where you get dramatic craggy mountains and lakes. South Lake, Rock Creek, and Convict Lake are some of my favorites in that area, and that whole area is delightfully uncrowded and unphotographed. Some places, like Rock Creek, require hiking to get to the really good parts, while others, like South Lake and Convict Lake, have beautiful views from the end of the road. The view of the east wall of the Sierras from the White Mountains road is also stunning, and that's where the ancient bristlecone pines (beloved of many outdoor photographers, especially Galen Rowell) are.
Lisa