I have done the rum tour and I enjoyed it very much. Mount Gay rum is very good and it is the only rum I have drank since. The historical information was pretty good althought the "pubs" were not much more than two bars spread thoughout the town. Perhaps is was the company that we met and hung out with that made things more enjoyable.
I recently returned from the Dawn Princess doing the Mexican Riviera and we did a catamaran snorkling trip that was a blast. The crew was good, the music cool and the drinks were bottemless and cold. We saw people getting off of a similar excursion in St. Maarten and they seemed to have had a blast.
Bottem line.....if you want to drink and party, go on the Jolly Rodger. If you want to go on a slower pace, educational tour go on the Rum Tour.