Sunil,
PIB is a lot more friendly than it used to be - they have cracked down on the craziness trying to turn the image around and attract more families - it's working. I agree about the Boardwalk! Still plenty of places to kill your liver, but I had a great time renting a golf cart and spending the day on the island with my family (3 and 5 year old) last year without any issues - it used to be wild and that is an understatement.
If you venture over to Port Clinton check out Jolly Rogers - they are closing soon for the season, but fantastic local fish!!
I'm spoiled, as my in-laws have a place up in Marblehead I can use anytime. I don't get up there a ton, but my wife and kids do. Talk about relaxing... I get up there more in the winter and no one is around, love it.
Maybe some ice fishing this year - still debating.
I can't recommend the area of Sandusky/Marblehead/Port Clinton, enough - especially if one was wanting to hit Disney. A day at Cedar Point and then sightseeing, etc... You will come back time and time again I would venture! Absolutely gorgeous this time of year!