I've flown many times on Cape Air between BOS-ACK and PVD-ACK. Had the pleasure of the co-pilot's seat a number of times (they weight-balance the planes, so it sometimes depends on the mix of the pax and baggage).
Cape Air is a pretty good airline, though somewhat lax about times. I've seen them run as many as four "sections" on some flights. As of last year, they were consistently profitable-don't know recent results.
Cape Air's safety record is pretty good-no fatalities, I think. In the last year or so a pilot-only flight took off too close behind a 747 and flipped over just off the runway at Logan (minor injuries, I believe). Then there was a flight (maybe MVY-BOS)where the pilot passed out and a Cape Air employee on the flight with some flight training took over and more or less crash-landed (all OK but the pilot was fired). Only one pilot is the biggest danger with Cape Air.
I really love the flights to ACK. The flights back are not as good since I'm leaving that beautiful island...Before 9/11 there was no security between ACK-BOS. Even without 9/11, the switch to Terminal C made security necessary. There is an inside-the-building walkeway between C and B, so you don't have to take the bus if you don't mind a longish walk.
The week around July 4 is always a zoo on the NE Cape Air routes because there is a ton of general aviation traffic in addtion to the regular flights. ACK is the second busiest airport in Mass.