phil,
we just went to Grand Bahama in May and got a great deal through TRAVELZOO.COM at the Crown Plaza Resort, we stayed on the "country club" side which used to be a holiday inn, it was a clean room with a king bed, and the staff was very friendly and helpful. the pools are real nice. we got the room at $62.50 a night thru travelzoo, about 1/2 price. the food at the resort was a little high but it sits right next to the international bazzar shopping center, kind of a tourist shop place, and there are some good restaurants and bars in there that are a lot more reasonable, Micheal's, La Roundevous and there is a good chocolate & ice cream shop there not to be missed.
In Lacaya there's a place called Pisces, that is the best food we found on the island.
also check out Pier One, they have nightly shark feedings at 7:00, 8:00 and 9:00pm, it's kind of romote form things so the cab ride is high about $11 one way, but the food is very good there also.
we dove with Nick and Karen Rolle of Sunn Odyssey Divers, great people with a 20 year perfect safety record. I would highly recommend diving with them, they will pick you up at the resort and take you to the dive boat so you don't have to worry about transportation. we had a great time with them and i have heard some bad things about most of the other dive operators on the island and i couldn't find a single bad review on these guys. check them out on the web
www.sunnodysseydivers.com if you go with them tell them Marc & Lore from Texas say howdy!
we flew american eagle out of Miami and were able to get round trip tickets for $120 with taxes and all i think they came to about $350 for the both of us.
hope this helps have a great trip!
God Bless,
Sharky