Two trips, one in March, the other in May. Seven total days, two rounds in relatively good weather- some sun, breezy, but little rain, 11-12 rounds in Huckaby "fun" weather. I too heard the stories about the great days, though they were typically from people who had heard it from somebody who heard it from somebody else. Those GoreTex bucket hats and wet-gloves are man's greatest creations, and though a bit pricey, they're essential to "enjoy" the "fun" golf.
JK induced modification: I loved Bandon. Would do it again if provided the opportunity. And it does appear that the participants of this group know the conditions quite well. BTW, my Titleist G-Tex suit which did very well at Bandon totally failed not too far from Chambers Bay. The wettest golf conditions I have ever played were at Pumpkin Ridge and Portland GC, a week apart. Not too many places on the courses without casual water. That was never a problem at Bandon.