Although most forecast tracks show Gustav heading toward the central Louisiana coastline to the west of us, there are obviously still concerns here. One is, of course, that a jog to the east would put us under the gun.
Even if that doesn't happen, there's still going to be some storm surge given our likely position in the northeast quadrant of the storm. (Hurricanes spin counter-clockwise, pushing water toward the northern Gulf Coast on the east side of the storm, and away from the coastline on the west.) Here are Weather Underground's estimate of storm surge, and realize that if the storm moves to the east that ramps up the potential for more water here.