As another 30 year electrical contractor, I thought I'd throw in my 2 cents.
I'd use #2 aluminum type URD. This is a direct burial tri-plexed cable, meaning that it is three, or four conductors, twisted together, but without an overall jacket. It should be installed in a carefully prepared trench with sand backfill. Use anti-oxidation compound on the terminations, and tighten with a torque wrench. Given the price of copper, and the fact that the panel terminations are aluminum, why not? My today cost is $1.16 per foot for the three conductor. (2 X #2, 1 X #4). I think this is about the cheapest way to get some power that far.
The reason a reduced-size neutral is allowed because with a 240 volt load, there is no current flowing on the nuetral. With 120 volt loads, the neutral will only flow the difference in loads between the two phases. E.G.- One leg drawing 15 Amps, the other drawing 5 Amps, the neutral will be carrying 10 Amps.
The technicallities about grounding are much mis-understood. You see, the conductors leave the house as a "branch circuit", but miraculously arrive at another building as "feeders". What this means to you, is that if you are installing a sub-panel in another building, you don't take a ground wire with the feeders, just 2 hots and a neutral. At that panel, you install the bonding screw, (to bond the neutral bar to the ground bar) and install a grounding electrode system. The best grounding electrode is the re-bar in a concrete slab or footing, but not having that, ground rod or two will make a mediocr second best. The point of this is to create a local ground reference, so that you can't get a shock from a grounded surface to a natural ground, especially with a loose or broken neutral. If for some insane reason you decide to install a copper water pipe, then you must install an isolating coupling at the house so that it breaks the current path.
Thataway mentioned installing an extra ground rod at the dock, but you cannot, and must not, bond it to the neutral if you also have a ground wire run with the feeders. You don't want to have the neutral return current flowing on parrallel wires. If you run a ground wire with the feeders, then you don't bond the neutral to ground, and you don't need an additional ground rod, although it's a good idea because of the voltage drop on wires that long.
Speaking of voltage drop, it's worth clarifying that it's a function of how close you are to the ampacity of the wire. The voltage drop calculations that others have listed are based on those maximum loads. If you're not drawing that much power, you're actual voltage will be higher. Motors are generally tolerant of a 10% + or - voltage range, and many motors are rated 208/230, when you're probably starting with 240. In my area, it's common to see 125/250, so every little bit helps.