I stayed there last year. It was not free, but the marina is big and has nice facilities. The guy who operated the municipal marina was very helpful. The marina location is a few blocks from the heart of downtown Cambridge. But it is a nice walk. There are a fair number of shops and restaurants. There is a nice museum on Bay life and history.
As is the case of many small towns these days, the big commercial areas (think Wal-Mart and other big box stores) are located near the biggest roads which usually bypass downtown areas. This means if you want to do serious shopping you may be in for a hike. But if you want a quieter downtown area, you are in luck.
Cambridge is larger and more developed than St. Michaels, MD. It is actually the county seat or something. This makes it less "quaint' than some other towns on the Eastern shore of the Chesapeake. If you want someplace that caters almost exclusively to visitors, St. Michaels is the better choice.
We met some people from NJ who have condos there. They say it is a lot cheaper than the Jersey shore.
