The invitations would be sent on our "Two Tiny Bears Against the World" greeting cards.
I like the red striped tablecloth and the striped napkin rings from this collection:
via Party Dress
But, as for the rest, I find it too kiddy - here a few of my picks to class it up a bit:
I'd use the favours and candle holders on the tables, plus the place cards. The bottles would be for putting in a special message for Greg, from each of the attendees.
The party would end with a sunset sail!
-Betty Crocker recipe for sailboat cake
-BirdCrafts' Nautical Themed Party
Check out these other great parties for decor ideas:
-Fiesta 40 Party
-Splish Splash Pool Party
-Christmas in July Party
-Day in the Garden Party