Although I have never stayed there, it has always intruigued me. It's one of the very very first resorts to spring up in Negril and seems to have kept all it's original character. In it's infancy was simply a vietnam "draft dodger's" house. When he started running out of money he'd rent out rooms to the trickle of tourists that were starting to arrive. Eventually other buildings were completed and it became what it is today. You can't get a more "Jamaican" experience than Banana Shout. If you stay there, please report back with your experiences and photos.
BTW - The book "Banana Shout" is a great read.