Yes, its very nice. Sandown beach is nice. Shanklin Chine, Brading Wax work museum (quite gruesome in places). Blackgang chine is a must if you have kids. Theres loads to do and see, Osborne House, Cowes etc.
Anyway, just to expand my answer, the beauty of the IOW is that you can stay at one resort, say Shanklin, but nowhere else on the isand is too far away to travel to as it is only about twenty miles wide, and the diversity of what you can see and do is far larger than what you'd get if you stayed at a mainland resort.
we are stopping at a hoseasons caravan park and i cant wait, its a place ive always wanted to go to but the far away places always won, finally after 10yrs i have got my own way and we are booked up in august.