We did just that a few years ago. We anchored for the day (and overnight)
inside Cape Lookout and had a very nice day there. Very protected. Played on
the beach and spoke to a family who had been camping there many times over
the years. My wife wanted to stay longer, but we left, and as Doug says, it
is a long way around the shoals.
As far as entering Ocracoke Inlet, we called the Coast Guard for advice, and
had no problems. It's rather impressive, entering and seeing waves breaking
especially to the south of the inlet, IIRC.
Do it.

"Capt. Mike" wrote in message
oups.com...
I'm considering sailing outside, around Cape Lookout, North Carolina
and offshore to Ocracoke Island, North Carolina, this summer. I am
aware that the channel at Ocracoke Inlet is subject to constant
shoaling and pretty strong tidal currents, though, and wondered if
anyone who has made this passage might have some thoughts on the
advisability of going this way rather than back up through the ICW and
across the sound into Big Slough channel. Thanks.