Haven't been there in a few years.. Went once when it originally opened up as the 'Grand Key Resort'. At the time there was no parking and the rooms had that 'new' feeling. I remember reading about the place being built with the environment/ecology in mind... some kind of energy efficiency built into the construction. Yes, its away from most things including Duvall St and the pier. Its also near the airport so you may hear planes from time to time.
You definitely want to have a car and inquire if they have a shuttle service (if this works for you.) We had a car and also rented bikes which were brought to the hotel for us. We took the bikes to the tourist section a few times and rode around the island.. There is a beach close by but we didn't go to it.. Have a great time.