Pros:
Location, location, location! Easy walk to the beach, easy walk to restaurants (every meal we had on IOP was excellent), easy walk to shopping (though there's not many shopping options).
Property Management. If I had a question I texted the property manager and they responded quickly. An issue with the elevator was fixed promptly. Most notably, our check-out date coincided with a horrible storm, but they allowed us to stay a little later so the worst of the storm could pass before we hit the road to head home.
Space
It's a spacious unit, perfect for two people (and two dogs!).
Ocean view
It isn't oceanfront, but there is still a nice view of the beach and ocean from the deck.
Cons:
This is an industry thing, but I really dislike the new option to check in early or check out late - for an extra fee.
Misc:
As other have noted, the deck over looks a beach bar. If you are someone who wants/needs complete silence, I'd suggest looking at one of the other units in the building. I didn't notice any noise when the doors were closed and the TV was on, but if the TV was off I could hear the music playing - not loud, but enough that I could recognize the song. It wasn't bothersome to me, but I imagine someone who is noise-sensitive could be bothered by it.
All in all, I would definitely stay here again, and hope to plan another trip soon.