Not sure if it's a factor for you guys or not but...

(imho) clearwater beach is a much more "fun" place to be, and to spend a night or 2 than davis island or dumpy and dead at night - downtown tampa (surrounded by pretty scary neighborhoods).

clearwater beach (right near the CSC) is a fun part of town with lots of restaurants, bars and the pier 60 silliness (jugglers, pirates, street performers, etc).
the "neighborhoods" that surround clearwater beach are luxury condos and very nice houses