We stayed for 5 nights in ground-floor unit 214 with our two small kids (baby & 3 year old). We felt the unit itself was a little on the dated side. The furnishings were okay (just like pictured on the website), but the blue rocker chair was very dirty. The mattresses were horribly mushy and made lots of noise. The baseboards were dirty and in need of a paint job and the old accordian sliding door just needs to be replaced. Maybe we're just picky because in the unit there was a guest book and everyone else seemed to love the place. We live in a 1950's ranch, so it's not like we expect the four seasons, but basic updates and maintenance would be preferred. The bathroom and bedroom furniture looked new, so some updates were made. The kitchen was okay - included all the basics we needed to cook some meals and the microwave looked brand new, but one of the burners of the stove didn't work and the fridge was rusted (I didn't even know appliances could rust like that!). On the last night of our stay, we smashed a HUGE (3 inch) COCKROACH. Absolutely disgusting and thank God that was the last night of our stay because if I'd seen it earlier, I probably would have checked out.
Now, all the bad aside, the location is ideal -- right on the beach. My son could run out of the unit and be on the beach in 5 seconds. Perfect for families with small kids - I could sit on the patio and watch my son play while my daughter napped in the unit. The one watch-out is that there are fire ants in the grass between the patio and beach - watch your step! The beach itself is okay - definitely not the sugary sand like siesta key, but it was wide and clean. The pool looked like it was recently renovated and it was heated and refreshing. The front desk wasn't overly friendly, but fine for what we needed. The maid service always brought clean towels when requested. The laundry facilities were good - $1.50/cycle - and clean.
For those of you that have never travelled to LBK before, it's a very quiet island. We usually stay in Siesta Key, but couldn't find any affordable availability, so we opted for LBK. We knew what we were getting into (not a lot of action/shopping/etc.), but it was a little frustrating when travelling with two small kids (who got sick!). They recently tore down the island's only grocery store (Publix) and it's supposed to be rebuilt by Dec 2012, but all baby/kids needs had to bought from AMI or Sarasota. We travelled to St Armands for most dining and most places are kid friendly, but we got some dirty looks from other diners as most cliente were older folks without kids. Also, the beach is very quiet -- not the crazy beach scene like Siesta Key or AMI. No umbrella service or cabanas for rent - it's all quiet families or retired folks.
Overall, the Seahorse was average accomodations with an excellent beach location. Given that we thought LBK was a little too off the beaten path, we probably wouldn't return to the island. If we did we would consider staying at the Seahorse again, just in a different unit.