I'm going to try to keep this short and sweet, because I hate reading for 10 minutes, myself.
Good:
-On site dive operator, Dive House
-On site pier
-Very close to a lot of good diving
-Cabs wait outside the hotel, so they're always available
-Very accommodating concierge
-Lots of places to lay out and catch good sun
-Very pretty building
Bad:
-Out of the way, you must take a cab or rent a car to go into town, or anywhere for that matter
-Basic rooms don't have fridges
-The on site restaurant, The Reef, bad food, worse service
-Mold in room, my fiance and I both got sick from it
-Housekeeping would shut off the A/C when we weren't in the room, so it was really hot when we got back
-Not enough towels for divers, unless you want your floor covered in water from your gear
What I would do next time:
-Not stay here
-If I was to stay here, I would get a room not on the ground floor so I can have a railing to hand my gear from and for a little extra security.
-Dive Santa Rosa Wall again, AWESOME DIVE
What I would do next time:
-Stay closer to town, Hotel Barracuda is a very inexpensive hotel which is perfect for divers, low cost, NOT A LUXURY RESORT, onsite dive operator, Dive Paradise, whom I dove with anyway, even though I stayed at FA.
-Go back to Tulum to see the ruins, I loved it
Tips:
-Know your exchange rate, even though USD is excepted almost everywhere, if you need to use the ATM you will get Peso.
-Use the ATM either at the municipal building or in front of the Kodak store.
-Stay away from Carlos 'n Charlies and Senor Frogs, if you want a burger and fries or ribs, stay home.
-Eat local food, Ernesto's Fajita Fatory, Temptations (@ Villa Bianca) Sonora Grill (aprox 1 block behind Plaza del Sol).
-Eat lime soup, it's really good
-Don't really worry about the whole water thing, any restaurant that attracts tourists uses purified water, but with that said...
-Go to the supermarket (Chedraui) and pick up a big 10 liter jug of water, it costs like $3 USD, if I remember correctly, use it for drinking water (bring a Nalgene bottle with you) and for brushing your teeth, stuff like that.
-Get a hotel room with a fridge and get some breakfast stuff, like cereal, from the supermarket, this will help save a few bucks.
-If you want to go to Playa del Carmen, be prepared to be hounded by vendors, completely opposite from Cozumel.
-Once in Playa del Carmen, walk to the bus station, DO NOT, take a taxi, they will overcharge you and try to tell you that the buses are unreliable, this is NOT the case, the buses are well air conditioned, comfortable, they show a movie, the seats recline, and they're inexpensive, I think it costs about $3.50 USD each way.
-If you want to eat at ANY restaurant on the east (windward) side, do your homework, the cab drivers know if the restaurants are open or closed, but they won't tell you because then they can charge you a hefty fare ($600 peso in my case) the windward side shuts down at sunset, use caution it's a half hour drive each way to find out the restaurant is closed.
-Use your cabbie as a resource, they are very well versed in almost eveything that happens on the island.
-Try to stay away from the places directly around the cruise ship pier during the day when the ships are in. You will be treated like a piece of touist meat. Travelers staying on the island are treated better because you have the option to visit a particular establishment again in the week, those on cruise ships will tolerate this treatment more beacause, well, they get it at every destination.
Bottom line:
Go to Cozumel, especially if you are a diver
Stay close to town
Do your homework