I've stayed here several times and have had a great time, whether by myself or with friends! It's much quieter and more reasonable than anywhere downtown. The "quaintness" makes them unique. Although they've got lots of age, that's what Cedar Key is all about. If you want to be on the water, close enough to walk to town, and don't need all the comforts of a newer, better equipped place, these are fine.
Mindset is everything. I'd rather have Silver Springs, Wiki-Watchie, the OLD Cypress Gardens, and the OLD Bush Gardens, than the new-fangled state-of-the-art, ultra-expensive Florida, but that's just me. Enjoy it while you can folks, "old" Florida is disappearing fast!