We stayed at Sur for 4 days in mid-October 2012. I went with my wife, a friend and about 40 relatives. I think our group took up most of the hotel during our stay.
The location is good if you are more into the beach experience rather than the nightlife/partying scene. Sur is located at Station 1, so the sand is as fine and white as baby powder, and the water is as warm and clear as a swimming pool. It is several hundred yards away from the major party spots at Station 1, so you don't have to deal with crowds of party-goers and blasting music at night. But since it's still pretty close to the Station 1 action, you can just take a 5 minute stroll in the sand to the beachside bars, or walk about 15 minutes to the livelier night scene at Station 2.
Other than the resto/bar at the resort and the adjacent hotels, you have to either walk to or take a tricycle cab to Station 2 or 3 for more dining/drinking choices. The trike is about P60 each way, but about 4-6 normal sized people can fit on the various tricycles.
The bar/resto is probably one of the cheaper ones in Station 1. I kept a tab open and ended up charging all my food/drinks to my room and only ended up paying about $50 at the end of my stay (for 3 people). The breakfast is pretty good, standard Filipino breakfast - fried fish, longaniza, eggs, fresh fruits, garlic rice.
The rooms are simple and clean. Hardwood floors, spacious bathrooms, A/C, and a TV. The phones didn't work when we were there, but we were right near the lobby so it wasn't a problem for us.
The staff/service was excellent - very helpful and accomodating. We were in a group of about 40, and they treated us all very well the entire time, making sure we thoroughly enjoyed our stay.
Boracay is way too crowded now compared to several years ago, so I don't know if I want to return, but if I do, I will definitely consider staying at Sur again.