We stayed here for two weeks (with friends the first and family the second). The other reviews have hit the highlights, so I'll just add a few points:
1. There is a good wifi and cable for working (if you need to) or general entertainment.
2. There is a window AC unit in the living room if it's hot (and it was for us), but not every bedroom has AC. There are fans in each of those rooms though.
3. It was not clear from the listing, but one of the largest bedrooms upstairs with three beds is only reachable by walking through one of the smaller bedrooms (with a queen). Be sure this setup works for you (like parents in the first room and kids in the back room). If you have a group of friends using those two rooms, it would be awkward to have to walk through one bedroom to get to the other and kills the privacy of both rooms.
4. The yard is huge, both front and back, and offers plenty of privacy. Great for letting kids run around while you lounge on the back deck.
5. The bedroom in the separate apartment with its own bathroom is nice. Plan to have people fighting over who gets it. This is the third bathroom though, so effectively the main house has two bathrooms, one up and one down. This means all four bedrooms upstairs share a single bathroom.
6. Old Silver Beach is great and is walkable in about 15-20 minutes. Parking there is tough, so plan to walk or shuttle people if you stay here.
7. The basement has a pool/ping pong table combo and an extra fridge. Very useful.
8. The grill is charcoal, so if you are driving, consider bringing a charcoal chimney.