I live out on Perdido Key right now. Like you I didn't think I would mind the drives, expenses, etc, but it gets real old. Don't get me wrong, living on the beach is great, but, to catch a cab back from the bars (Sevilles, McGuire's, etc) costs about $45 (catching a cab from bars at Pensacola beach isn't even an option). Go to a movie, 35 minute drive. Mall, about the same... If you catch my drift. I put about 350 miles a week in driving. I have found there are some fun places to go in Alabama though, and have spent more than a few Friday nights at Florabama.
As for the wait, the days of several months are over. Most SNAs are only waiting somewhere around six weeks, and after that the amount of free time reduces drastically. Just a few more things to keep in mind. Hope all this helps, but most importantsly, whatever you do enjoy your time off before API.