There is Still Pond and Still Pond Creek. The Still Pond anchorage is south of the Sassafras and open to the Bay proper. Many cruisers anchor right there, on the south side which is normally OK unless the wind is coming out of the north or even the west when that anchorage can get a bit messy.
Still Pond Creek is entered from the far eastern side of Still Pond. The cut was recently dredged and new markers erected. Basically, follow the markers into the cut. While in the cut you must favor the south side, so much so that if you feel you can reach out and touch the trees you are in the right place. Hug that south side until you pass the final daymark at which time you can begin to move more freely throughout the anchorage. Watch your depth finder and you should be fine even in low tides. We've anchor both our Carver and our Silverton there and never had an issue.
As for shoreline, there are a few posted areas but other than that you will have little problem walking parts of the shoreline. Just use common sense and be considerate of the lovely area and you should have no problem. There are some eagle nests in the area and there are eaglettes in the nests this time of the year. If you get too close Mamma Eagle will raise a racket. If that happens you must leave the area. The eagles and their nesting areas are federally protected so its best not to mess with them.
Hope this helps.