If Surfing (or Body Boarding) Is Your Thing...
...then Woolacombe looks like one of the (many) places around North Devon to indulge.
Personally I'm not a surfer and so I don't know very much about it (except that you have to have shaggy blond hair, a sun tan and a board). However Woolacaombe seems to be one of the most popular surf locations here in North Devon judging by the number of places where you can buy or rent the relevant gear.
One reason why Woolacombe is so popular is that there are big tides (often over 10 metres), the beaches are gently sloping and, I assume, given the right winds, this makes for surfing paradise.
Anyway there's plenty of surf shops and the website below has up-to-date surf info, an active forum and webcams for most of the main N Devon beaches.