I live on the north side of 30A, across from Watersound. I usually shop at the Publix in PCB instead of Watercolor - it is bigger, less crowded and they don't have the shortage issues that Watercolor Publix has... Last night I stopped at the Watercolor Publix on the way home from work and they were out of the milk I like, the ice cream I like, and a few other things - the shelves were pretty bare.
The drive to PCB is slightly longer mileage, but less traffic, fewer pedestrian issues, and generally more pleasant... it never takes me 14 minutes, I'd say more like 10. For a slightly quicker route, take 30A East to Watersound Parkway (where Camp Creek Golf Course is) and turn left. Follow Watersound Parkway to Hwy 98 and turn right... You avoid the slow speed limits and lights in Alys & Rosemary Beach... (those are both beautiful developments though, you should check them out at least once on your visit.)
For local produce, definitely Toni's or For the Health of It...
The Publix bakery is actually very good, I've never been disappointed... For really yummy treats though, head west on 30A to My Daddy's Cheesecake in Gulf Place (corner of 393 & 30A)