If I wanted it and you wanted it then why would that damage respect? Usually it would increase respect because you're cool talking about and engaging in sexual stuff without being uptight about it. I don't think the sex itself is *that* important, although it is nice, I think it's the attitude toward sexuality that I really like. Honestly it's quite an attractive quality.
I wouldn't, even if she wanted to. I have morals, and values, and even if I adored her, and the date was AMAZING, there needs to be that 'learning period' when you decide, as a couple, if you are compatible, rather than complicating things with sex, and possibly pregnancy, too early!
I wonder how many times this question has been asked? :p
Two people can really click in a short period of time. If it leads to sex, then it leads to sex. How is a guy really supposed to know how many times you have done that before? If you go on and on about how you have NEVER done that before, he will be more suspicious. But on the other hand, most guys really do not care and will tell nobody even if you two do not hit it off later on. The only guy that would brag about it is one you probably would not have sex with on the first date anyway. So it is a moot point.
If I lose respect for her it won't be because of that but more like her attitude or some other reason. I actually have more respect for hookers than ones that give it away for free though, whenever or how soon it happens. Why? Because they have enough business sense to sell it. Business sense is a rather important skill to have in life.