AirTran gave me a group rate of $322 per person into Pensacola, that's almost $100 off their published fares. NWA (we flew with them last year) rate is $405 into Pensacola and their rate into Ft Walton is $329. They have no breaks for groups other than more liberal cancellation policies. Delta's group policy is much more restrictive than either AirTran or NWA.
Continental flies into both airports but has a poor choice of flights. Air Tran doesn't fly into Ft Walton.

I originally mentioned that the fares into Pensacola would be more expensive than into Ft Walton. That's obviously no longer the case, at least for this week.

Let's see if we can nail down our groups and our destination by next week. Right now Alabama has the edge in sentiment. Matt and Hoxie are coming to Olivers tonight. I'll get their preferences then.