Planning to sail in May from St. Vincent -the 7 day agenda so far looks like: Bequia Admiralty Bay, Canouan (Charleston Bay), Tobago Cays, Palm Island, Carriacou, Union - Chatham Bay / Salt Whistle, Mustique, and Baliceau on route back to St. Vincent and a flight back to JFK - looking for "must sees" "Must do" (other then snorkling) and great finds in terms of restaurants --thanks!!!

stock up at the grocery store - I didn't find a single restaurant that I would dream of recommending. For the rest, your itinerary looks good to me. There's a great little bookstore in Bequia. Bequia was in general my favorite island.

Get ahold of the Cruising Guide to the Windward Islands by Doyle. It lists all the anchorages and restaurants. Great places to eat: Mustique--Basils Bar; Salt Whistle Bay Club at Salt Whistle Bay; have the "boat boys" grill you a lobster in the Tobago Cays; several nice places in Bequia.
The restaurants are not fancy but do add "local" color to the experience. I would skit Canouan, not much there.
Best snorkling/dinving I have ever experience was Horseshoe Reef in the Tobago Cays. Spend 2 nights there if you can.

Bequia has a neat little model shop run by local craftsmen for sailboats that make great gifts.Keep a weather eye for Bob Dylans boat "Water Pearl",used to have music at night.

Thanks for the suggestions! We are a group of six - I welcome any advice, suggestions etc. - this is my first sail...

You might want to try the Caribbean board here at Fodor's if you're not getting enough info here.