My wife and I went to the Grand Prix at the IOM last year. As part of the 100 year celebration the Vincent club was invited to do a "roads closed" lap of the IOM circuit. It was called a Parade Lap but it quickly turned into a race. In all 183 Vincents went around the course.
It was great fun, I had the old bike (47 Vincent twin) to 110 mph twice on the straights, and just ran the snot out of it . Unfortunately four bikes crashed, and two riders had to be airlifted to hospital, but they have both since recovered.
After a week at the IOM my wife and I did 2500 miles and three weeks of touring in Northern England and Scotland without so much as a hiccup from the old bike, so I was pretty pleased with it.
It was a an expensive trip, especially the IOM part. Then again it is bound to be expensive to fly your bike from Canada to the UK and tour for a full month, the fly the bike and yourself home again. It really was the trip of a lifetime and we only had three hours of rain to ride thru in the entire month.
On the IOM I can't really give you a good place to stay as the hotel we were put up in was costly and a bit of a dive, that just seems to be the standard in Douglas. The Steam Racket Ferry was also expense, return trip costing about $500 Cdn or U.S. for the bike and the two of us. I will never complain about BC ferries again, they are an absolute bargain in comparison.
I found accomodations and meals quite reasonable on the non IOM portion of the trip, generally between 50 and 70 pounds for a bed and breakfast, which is probably less expensive than here at home in Vancouver. We stayed in some really lovely old places, all of the breakfasts were excellent.
On the IOM we had our evening meals at the Creg na Baa pub, it was very good and quite reasonably priced. We mostly dined in pubs to keep the costs down. The few restaurant meals we had were subpar and very overpriced ($250 for dinner for two?)