(At CBR last month, according to my 10 yo dd) they begin by teaching the kids to say "argh!" and tying pirate bandanas around their heads. They board the boat, and put in the cd with pirate music. The Captain has one clue, and the kids have to decipher that clue to determine where to stop the boat to find the next clue. They make several stops around the various beaches, deboarding at most of the stops and searching for the next clue. Some were buried in the sand, some were hidden behind bushes, and some were floating on the water. The clues eventually lead to a key. At one point, another pirate chases after them in another boat, and they have to scare her off. All the while, the pirate and first mate are joking around with the kids and each other (a running theme was First Mate Monica's giant tomato head). Finally, they arrive at a beach (the island in the middle of the lake) where they find a cooler with their lunch, which they then eat. At the end of the cruise, they return to port where a big treasure chest is waiting for them. They use the key to open the chest and inside are individual chests filled with treasure (coins, plastic eyeballs, mardi gras beads, rubber snakes, etc)--one for each of the kids to keep.
It seemed like they really got all the kids involved, and they all seemed to have a great time. We had the oldest and youngest kids in the age range, and they both loved it, if that helps. I'd highly recommend it to anyone.