Maladryne:Charley was barely a Category 2 hurricane when it passed Cayman, and as hurricanes go it was relatively compact. Ivan's just hit Category 4, and is a whole other animal. If you go, consider yourself lucky if all you lose is a single day of diving. There's nothing cool about riding out a hurricane, especially on an island where the highest point above sea level is 60 feet (and that's at the top of the lighthouse in West Bay).
Ah, but Charley was but a wee Category 1 and the eyewall never came ashore. All we actually got for wind was Tropical Storm Force winds.
I lived right near the highest point on Grand Cayman for about 4 months before I realized it. "The Mountain" is in Northside and is all of 62ft above sea level.
Most of GC is much lower to the sea. A decent storm surge could run all the way across the island in a couple of spots that are particularly narrow and barely above sea level.