As it seems that you find Cozumel suitable in a "things to do" kind of way, I'd be a plus one for Belize. I haven't been all over the place diving, but I've been to Coz and Ambergris Caye in Belize and I think they compare to some degree. I stayed at Ramon's Village, which is a little expensive, but it was ultra convenient. Though my cabana was right next to the road, and at night it would sometimes seem like someone was going to drive right into my room, it stopped at about 10pm, and if I returned, I'd request the same cabana. No. 13. 15 seconds away from the bar and restaurant. 45 seconds to my gear and the diving. Immaculate place. They'd even rake the sand at night, so when you stepped out the next morning, you could see your foot prints. Made for some great footage on my Belize dvd.
There were many good places to eat, and the food was varied. Seemed like there was kind of a European influence. Ambergris felt like a mini, mini Cozumel. The diving was really good. Spur and Groove reefs. Sharks and groupers on every dive. We really lucked out and had 10 to 15 minutes with a pod of 7 dolphins on one dive. The resort is right on the "edge" of town, so everything was in walking distance. 90% of travel is by golf cart there. Lots of shops. The "airport" is a block and a half from the resort. We walked while they took our baggage on a golf cart. They'd have let us ride, but it was so close. Ramon's dive operation did a really good job and they say that their beach is one of the best on the island. From my room, it was a 45 second walk to my equipment and the dive shop. The people were very friendly and nice. SI's were back at the resort. I don't think we went further than about 10 minutes from the resort. One could do an afternoon of shopping/exploring and you could rent a golf cart for a day and see the island. You could also do a day trip to the mainland, and there's much to do there. There wasn't really any shore diving where we were. You could, but it's turtle grass and sand and isn't deeper than about 12 feet. Lots of people snorkeled right next to the very long dock. Food at the resort was so-so for supper/dinner. They had nice breakfast and lunch menu. Great seafood soup. If I went back, I'd probably eat out every night as I do on Cozumel.
All that said, I think there are some islands further south that are really close to the mainland. I think from Ambergris, it's a 45 minute boat ride to the mainland. Also, the diving around Turneffe is considered better than what's at Ambergris, but Ambergris was just fine imo. If you stayed south, you could probably dive in the morning, and do something on the mainland every afternoon. (not sure about that, but I've read it somewhere)
Oh, when we were there, in 2007, it was during the elections and also some kind of holiday where they throw eggs at each other. It was a hoot. Some of the best entertainment I've ever seen. It may have been Carnival? There were parades at night with music and dancing, etc, just like Carnival on Coz. There was a group of men, all dressed like women, and they were a riot!! And some of the election signage was very interesting. "Tings Had. Take dem money." Apparently, one of the parties was paying people for their vote. They (whichever political party) flew one of the guys at the dive shop to the mainland, just so he could vote.
If you haven't been to Belize, why not? Cross it off the list.
-Blair