I have only run the Intercoastal two times, both times it was from Waretown (southern Ocean County) to Atlantic City and back. I have not been too fa south after Sandy hit. That being said, there was plenty of water at both low and high tide when I went. As I recall, it was actually a nice ride and we enjoyed it. I want to point out that there is a roughly two mile stretch behind LBI that is a no wake zone, we decided it was time to have a snack and enjoy the waterfront homes (and boats) in this area. I have also ran outside a few times, faster but a little less scenic. I have only been to cape may by car sometimes with boat on trailer.
Hope this helps, enjoy the trip.