As a kid, the family vacationed at the boardwalk every other year it seems. We would either drive down or grab a bus.
The majority of hotels on the strip were clean & cheap. Alot of the lobbies still have shag carpeting & Donkey Kong. The surf & turf was a bargain at most restaurants(bring your own wine), & the sweet shops had great fresh chocolate covered strawberries. All the saltwater taffy you could carry as well.
The beach was always clean & fine. Even 50 yards out, the water wouldn't go past your waist. You could rent a bike & ride the boardwalk early, or grab the tram if it happens to be going your way.
There are a ton of low-mid sized rides, some water events, & even a couple nice walk-though/ride through haunted houses. Pay for the unlimited ride wrist band rather then the individual tickets. Grab some curly fries & hit the arcades. Play with the horseshoe crabs & make some sand art. Race remote controlled cards, submarine shoot, funnel cakes.
Weather in August will be sticky, but the boardwalk will be alright. There are alot of hotels with rooftop pools & free breakfast. The likelyhood of rain is about the same as the surrounding areas. There use to be a movie theatre on the boardwalk, but most rides close with the rain. Arcades, restaurants, indoor pools, & a comfortable room are about the only things I remember having when it rained.