We're making our 2nd trip in May 2012. We like diving with Buddy Dive, but wanted condos for our small group. Never have stayed there, but we're going to Sand Dollar condos, next door to Buddy Dive. The units available with VRBO appear to be a notch above taking "pot luck" through their rental office. We'll dive with Buddy Dive, not the Sand Dollar dive operation.
Of course this means you have to put together your own package for car, diving, etc. We'll find out in May if this is better than staying at the resort!