I haven't done it, but a former teammate did it a few years ago. She had never done an open water event before, was pretty nervous, and absolutely loved it. From what I remember her saying, the water was pretty warm, and the conditions that day were not bad. She had big concerns about waves but it turned out okay.
Sorry I can't tell you more, but she was very positive about it overall.
Good luck!
They hosted the USMS 5K open water championship in 2004. The water temp was a little less than 80 degrees, more of just a chop than waves. Amelia Island is a great place to spend a weekend-or more-especially if you like the beach and ocean swimming. Race organizers can probably suggest places to stay and there are lots of restaurants.