This is a fascinating place. It looks like the U.S. Fish and Wildlife Service may buy the property for a wildlife refuge and would certainly remove the old structures. Until then, anyone can take a nice long walk down the beach. If you walk the entire route and back it's almost 3 miles.
Update 3/7/2008: Last night 3 of the cottages burned down, and the two men who called 911 after seeing smoke were given $94 trespassing tickets for walking down the beach, according to the CT Post. I called up the Stratford Recreation Department and was assured that the public is welcome to walk down the beach - just stay away from the 45 cottages - they are strictly off limits. But you can walk past the cottages, staying down by the water. When you get to the Bridgeport side, and Pleasure Beach, I saw no signs prohibiting entry to the park.
Update 3/16/2008: How quickly things change! Stratford has officially closed all of Long Beach past the parking lot and there are no trespassing signs up. However, under state law, the public is guarenteed access to the beach below the mean high tide line. I was surprised to learn this law originates from Roman times. Apparently there is a very long tradition of shoreline property owners trying to keep everyone away, so that laws were passed to allow the public to fish, hunt, gather shellfish and, more recently, just recreate along the shore. This time it's the City of Stratford trying to deny public access, ostensibly worried about someone damaging the abandoned cottages that need to be demolished (I'm not exactly sure why that is such a catastrophe if they're going to remove them anyway, but what do I know?)
3/26/2008: Per the CT Post this morning, someone stole the 'no trespassing' signs, and due to lots of angry residents calling the Mayor, the new signs will say 'no trespassing near the cottages'. How surprising that people might get angry about a mile of beach being closed.