I fully acknowledge that St. Mike's is a beautiful place to visit, but it certainly can be expensive.
I really feel that Oxford, up in the Tred Avon River is greatly underrated as a place to visit. It's every bit as beautiful at St. Mike's, historical, less crowded, and less "touristy". Plenty of anchorage, and affordable slips and facilities at Mear's Yacht Haven.
On the other hand, maybe I shouldn't be plugging the place. I like the peace and quiet when I visit there.