Looks like Tropical Storm Fay will be in the Florida Straits Monday and the west coast of Florida Tuesday and Wednesday. That is the likeliest current track, but it could be on the east coast of Florida too since the probabilities are there. By Sunday morning a narrower cone will be available. For those sailing from Ft. Lauderdale or Port Canaveral the west coast path is preferable. For those sailing from Tampa, of course the eastern path is best.
The best path for the gulf and most of Florida would probably be over the keys and up the central part of the state remaining over land. It would obviously be worse for the Keys and wherever it came ashore, but it would prevent strengthening.
You can pull up the current forecast cone here:
http://hurricane.com/hurricane-track.php