Pete - the race is around Santa Rosa island. The ICW runs inside the island and the Gulf is on the outside. It is traditionally clockwise rotation beginning in Ft Walton, head East to Destin Pass, South out into the Gulf, turn right and and head West up the Gulf Coast. Pensacola pass is about 40-50 miles on your right, head back East after navigating the pass and sail the ICW all the way back to Ft Walton (traverses the same course as Juana's but longer). There are some narrows that get pretty quirky. It is easy logistically because start/stop are in the same location (assuming you finish) and there are plenty of places to bail out if the wind dies, injury or just plain old tired.
Only a few marks to round, you used to have sail fairly close to the fishing piers to check in, but not any more. Bad weather has caused both legs to be inside and away from the Gulf. The idea is to get the Gulf sailing out of the way before sunset and have a reach/run back to Ft Walton. Some boats this year did not make the 7:00 PM (I think) cutoff at Pensacola Pass.
Some boats were out for 24 hours.
I have not seen results but I know of some times from ppl. Earliest boat was 5:30 PM and I know of one boat at 6:56 AM (wow).