Tuolumne Meadows is the place to be in summer, especially in a drought year. Still, the valley has iconic views not to be missed.
Gaze at Half Dome in the evening from the meadows near Curry Village or the meadows near the likely dry Yosemite Falls. If wanting to hit the valley tourist spots for part of a day, rent a bike to tour the valley rather than attempting to drive it.
Hike the Mist Trail even though it is a zoo and won't be anything near peak runoff. Consider a 4-mile Trail-Glacier Point-Panorama Trail-Mist Trail Loop for great views.
Consider hiking to Clouds Rest from the Mist Trail; it does not have the same thrill and bragging factor of Half Dome for the casual hiker, but has better views and no crowds. Sunrise TH provides a shorter hike to Clouds Rest either out and back or as a one way hike via bus or arranged by car.
Like I mentioned, go up to Tuolumne Meadows. Stay up there some of the time if you can swing it. Swim in the river pools north of the campground. Pick a peak or dome, or several of them, to hike and scramble. Lembert and Cathedral are nice, short hikes. There are other scrambles and climbs galore to be found if you are into that.
Consider hiking Mt. Conness, North Peak, or Conness Lakes from Saddlebag Lake; that area is not to be missed! Mt. Hoffmann, or if looking for a long hike, Mt. Lyell are known to be very scenic hikes.
This site is helpful:
http://www.yosemitehikes.com/hikes.htmHere is a guide to some off the beaten path Yosemite Valley hikes from a guy who has made a spectacular Death Valley website:
http://www.panamintcity.com/exclusives/intro.html Note: This summer will not be the best time for some of his suggestions.