Although we generally enjoyed the tour and what we saw, it was what we didn't see, and the lack of candor about it, that leads us to give only an average review. The name of the tour says it all - the Wild Pony Watching Tour. What the tour operator failed to disclose when we booked our tour, however, was that the ponies were to be rounded up just before our tour to prepare them for the swim across the channel a few days later, and thus would not be available to be "watched" at all. When we called to book the tour, we had specifically asked whether there was a better or worse time to see the ponies, and the tour operator failed to disclose the roundup.
What should have happened is that, knowing that the roundup would have occurred just prior to the cruise about which we were inquiring, he should have told us that fact so that we could make an informed decision about whether to take the cruise, indeed whether to make the trip to Chincoteague and Assateague, at all that day, instead of waiting for a better opportunity.
While on the tour, the captain mentioned that perhaps a few ponies might have eluded the round up and still be able to be seen, but when we approached Assateague Island he made very little effort to see whether any ponies truly remained, preferring, along with his brother the tour guide, to remain in deep conversation with a passenger and largely ignoring the rest of the passengers and the possibility that any ponies might be seen. Compounding the problem is that, at the end of the cruise, when we voiced our displeasure, the captain simply shrugged it off, whereas a more astute businessperson would have offered, presumably at a discount, the ability to come back and take another cruise.
Having said that, the cruise itself, absent the ability to see any ponies, was quite enjoyable, and we did see other very interesting wildlife, including abundant dolphins and a variety of birds (an eagle, pelicans, a loon and other shore birds). The captain did allot ample time to see this wildlife, and the tour guide provided some useful information, although perhaps not as much about the environment of Chincoteague and Assateague as we might have liked. For example, whether or not ponies could be seen, more information could have been provided about the ponies themselves, how they got to the island, etc.
If you can take this tour at a time other than when the ponies are unavailable (and you don't rely upon the tour operator to inform you of this), it is recommended.