Good call. That's exactly the case, if you follow the channel (which consts of 40 minutes' worth of no-wake-zone driving) and head out into the ocean, as soon as you're entering the ocean, the waves get HUGE. There is a jetski rental right by the entrance of the ocean and people are always riding around there, doing massive jumps on the jetskis, but I couldn't do that to my own...it's too much abuse to the jetski, you don't get to go fast, and you get sick of riding after just a few minutes.
I prefer to stay in the bay where I can constantly chill at around 40-50mph and have those bursts of acceleration to 70+ mph, that's a lot more fun for me than jumping waves.