Bruce, we do this quite often in Georgian Bay in Lake Huron. There are few protected bays, and I have come to enjoy "sleeping" with one eye open. We use a couple of oversize anchors, but I also run a line back to the shore and tie it to something sound. The boat is essentially suspended between anchors and mainland.
I used to consider tieing that line to my toe, but opted against it. I do, however, flop a bunch of pots and pans over the line so that I can hear any big changes in the way the boat is resting.
But I still position the boat so I can see it out the tent door... And sleep with one eye open...
I also keep my hand-held VHF with me just in case! Our favorite spot to camp is on an island that's about 22 miles from the mainland!