Spent 2 nights here last week. Really liked it and want to come back with my Mom/Dad/Sister/Nephew sometime.
I went to UCSB 2001-2005 so I was used to being in IV and driving downtown to SB/State St and things like that. I also liked walking along the beach and pretty much just having it be other hotel guests. I thought the rooms had a wonderful decor and relaxing feel. Does suck that they charge you for parking given you're in the the middle of nowhere with no real space issues.
The resort fee gets you internet, spa access, water and a few other things. I did 1 night points, 1 night paid so it wasn't a big deal. Looking at mid-week dates seems like you could get a room for about $300 which I don't think is too bad.