I live right next to the Icefield Parkway and have ridden it numerous times.
I don't find the elevation too much ... but I've gotten used to riding it.
It's got a great shoulder, like most of the highways in Alberta. Although, the shoulder does get rough in places because of runoff and the winter wear. For a better shoulder, and equally beautiful scenery, I actually prefer Hwy 11.
The camping is fine ... I love camping in the mountains.
Yes, there are heaps of tourists ... you'll want to get to your campsites early if you're travelling in July and August, and don't even think about going the hostelling route, it's too late.
These shots are of Hwy 11, Hwy 93, and the Icefield Parkway: