You should take a look at www.iowtouristcard.com - Some really good quality places to stay covering the whole island and you save money! - valid card holders can get 10% discount off Wightlink ferry, all routes, and you can save money on -accom, food, attractions during your time on the Island - we got one and saved over £125 on our trip this year.
out of summer holidays - Seaview - lovely old fashioned village with nice sandy/stony beaches. If you go in high season it becomes 'Surrey on Sea' however. We often go between Easter and May half term for a long weekend. Nice cottages and apartments to let here http://www.wightlocations.co.uk/