I've heard that's the one to hit. We looked at going to St. John last year for New Years but ended up just going to Key West instead (a little easier itinerary and I could use HHonor points).
I'm no expert though by any stretch. I just know how much we enjoyed it. We'd like to go back to St. Barts, but that's waaaay out of our price range.
Well, my niece, the princess, did manage to pick President's Week, a holiday NOT celebrated nor widely know in the South, second only in price to Christmas.
But the tickets I orginally paid $800 dropped like a rock to $350 and the condo was $427 a night, and I've certainly paid close to that state side.
If you do HH, you have to to go the Sandestin Hilton. Swell. Just wonderful. My husband's band plays down there sometimes!