We were in a 2 bedroom Lake View villa a year ago over Independence Day and could see a lot of the fireworks from our balcony. Even though we had a high floor, we went down to the lake front and watched them far better from the sidewalk there next to the Villas. It was great!
Best place to watch them is the patio outside Gasparillas. If you have ressies at Narcoosies, you can watch from Narcoosie’s deck. Both will have the music on speakers.