Too bad you can't do Escape the Cape. I did it last year, a truly spectacular, top notch event.
I've been going to Wildwood for a number of years now, I dont do any "group" activities but lots of S/B/R training while my wife relaxes on the beach! for running, the beach is pretty great early in the morning before crowds roll in, and same for the boardwalk. i'm usually doing stuff in the morning to beat the heat anyways and having places which are normally crowded to yourself is a double bonus. swimming, I didn't bother even looking for pools, went for the ocean. as for riding, i've had success going the ocean drive route, up thru stone harbor, avalon, sea isle city, all the way to ocean city. in terms of the towns, wildwood itself is the worst to get through. the rest are much more quiet, quaint, and pretty. wind can be a factor, coming off the water. you can also head toward cape may. i personally love the ride south out of wildwood, down into cape may then out west on sunset blvd to the lighthouse, then up to the higbee beach area by all the vineyards out there. up around the airport there are some good roads too. Just stay off 47. wayyyy too many 18-wheelers and road debris (yes, I got a flat so i'm bitter at that road). besides places which rent beach cruisers (and know nothing of road bikes), there is a lack of bike shops down there, at least I haven't found any - so bring spare tubes or other things you may look to a shop for in a pinch.
if you enjoy nice delicious beer, make sure you go to cape may brewing co.