Two friends and I chose this as our final activity after a very enjoyable week in Nuevo Vallarta, and we weren't disappointed. I did this in 2011 as well (with my husband that time - very romantic), so I had some idea what to expect, but I enjoyed this one even more - the boat was much less crowded and the whole evening felt much more relaxed. (Vallarta Adventures have apparently taken customer feedback to heart and added more boats.) The candle lit island is gorgeous, the buffet was delicious (I even tried cactus leaves, which was a first for me. Tasty!), and the performers were amazing.
I can't vouch for any other boats, but we were on Boat #4 and our cruise director's name was Julio Castillo. I can't say enough about how well we were treated by the staff.
Highly recommended - I would do this again. Some advice - take a shawl or light jacket for the boat ride back, as it gets chilly on the water that late at night. Also, as with all activities in Mexico, you'll want to bring tip money, but just be aware that the tips for the island staff will be collected separately from the tips for the boat crew, so make sure you plan for both. And above all, if you're leaving from Nuevo Vallarta, don't believe the sales guy if he tells you the boat boards at 7 and leaves at 7:30. It leaves at EXACTLY 7pm (7:30pm is the departure time from the second stop at Puerto Vallarta).
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