Princess cays is nice but since you are being tendered from the ship to shore, you are talking big crowds. From what we noticed the cabanas where being taken pretty fast. We ended up booking ahead of the the Bugalo houses which is different from what you are asking.
I do know this when it's time to eat they where very long lines at times.Where if you went with the bungalo you have your own stewart that will bring your drinks and food. But princess cays is nice I wished the boat will remain there the entire day from early morning till about 9pm you will actually feel like the corona commercial total paradise. Bring a waterproof camera the tropical fish swim around your feet and the hermit crabs are everywhere they dont bite they are very small but neat to look at.
It's to rich for me but seem to be popular. There's plenty of shade under the trees & now they've added additional shaded structures which can accommodate about 6 lounge chairs. The food line did get crowded when the Caribbean Princess was there but didn't seem to bad when we were on the Grand.