sugar, I haven't been to Key West before, but we're heading there for a few weeks at Christmas, so I've been accumulating travel information. One site that I had on favourites is:
Bed & Breakfast Inns Online
(which you probably already know about if you're looking for a B&B.)
Several of them are rated in the 2002 AAA/CAA guide with 3 diamonds, and one with 4.
The Center Court, Cypress House, Ambrosia House, Chelsea House B & B, Conch House, Watson House, all with 3.
Heron House with 4.
Oh, and Westwinds Inn B & B with 2.