We actaully went there this year, and I took the boat up on late Wednesday afternoon. Boats were already starting to come in. Mike is right about the folks anchored n the basin. It is "Animal House".... .But, we had a spot on the dock, where it is quite a bit more tame (though still not really a "family" event).
Obviously, it's too late this yeat, but if you want a spot on the dock at this event for next year, you need to enter the lottery at the Chesapeake Inn and Marina in January.
We were in the basin once in the past, and we wouldn't do that again. The ubiquitous "T&A" flashing does not bother us. What bothers us is the "A-hole factor" of overly intoxicated morons who have no respect for others or their boats. You have a good chance of boat damage, or worse, out there in the basin.
If you get a spot on the docks, it can be a fun time. Generally, the people on the docks tend be more serious about their boats, and respectful of others and others' boats. You know they have to go through the effort of going to the lottery in January. They're ususly not just some 21 year old college yahoos who at the last minute decide this would be a cool thing to do for the weekend. They're not getting on the dock without some pre-planning.
Most of the people on the docks get there by Thursday, as we are reuired to pay for a 3-night minimum anyway that weekend. There is a lot of comraderie among the dock crowd, and it can be a really great time. We have a few friends that go, and have made more friends there at the docks. Yes, there is still a bit of "T&A" flashing on the dock (sort of like Mardi Gras), but nobody or their property seems to get hurt. Okay...there might have been a woman or two on the dock who could put your eye out if you get too close, but that's another topic!
The basin, on the other hand, is out of control. Anchor in the raft-ups in the basin at your own risk that weekend.