You are correct, Tahiti is the most beautiful place on earth. It excites all your senses and yet exudes a sense of calm that is hard to come by in today's hectic world.
The overwater bungalows are nice because you typically have private access from your deck to the water for snorkeling/swimming. You can view the sea life right from your room via glass table tops or floors. One of my fondest memories is a pizza party with four friends on the glass top coffee table. It was dinner and a movie all in one.
The Paul Gauguin is also spectacular in terms of service and accommodations. For the most part, that is where we will spend most of our time, on the ship, in terms of accommodations. Also, when the excursions are offered there is one absolute that you should consider. It is when we are in Bora Bora. It is a snorkeling with the rays and sharks. Again, the best excursion I have ever done and I did not even snorkel. Watching the other gals, enjoying the beautiful water colors and the clarity of the water enabled me to see everything the snorkelers did and I did not have to get sand in my toes :-). When the excursions are listed, (I think we have some time here), I will highlight the one I reference in this post.