I'll be going to Moalboal in mid December, diving at Savedra and staying at Marina Village. I've dove with them many times through the years, and always seem to come back satisfied. Jaime is a good dive master with amazing eyes for finding the little macro stuff, he knows the sites well. Lindy is great too, very friendly woman divemaster who is also very experienced. Heman the manager will make sure the shop is running well and the dives are organized and on time. Last time he handled a couple of minor repairs faultlessly (battery change in dive computer, and hose O-ring replacement). It's good to have competent people for the light repairs you sometimes need, and can't always count on in the more remote dive sites.
I enjoyed the schooling sardines at Pescador Island, a thresher shark in the distance feeding on the sardines, and loads of frogfish, nudibranchs, etc. I think what you see is seasonal, for example the sardines, or ghost pipefish, or seahorses have their seasons. The airplane at the Airport site is interesting. Rumor has it a whale shark was sighted, I never saw him.
The restaurant opposite and left of Savedra is called Sunset View, and the food and especially the view can't be beat, service average. I had fish cooked many ways (especially lapu lapu cooked escabiche sweet/sour!), fresh shrimp with garlic butter, and other seafood that delighted us. For a change, another nice restaurant is Silver Ray, two doors to the right of Savedra -- no view, but great food, more friendly staff and low prices for Italian style food and seafood too. They have a contract to provide the meals for Savedra employees and the employees seemed to like the food, so that's a good recommendation too. Beware, I did have some spoiled chicken at the southernmost seaview restaurant, so stay out of that one.
As for logistics, getting there is easy from Cebu Airport, just take a taxi. I usually bargain them down to P2000, they will ask P3000, but it's soft. The hotel can arrange your return by taxi for P2500. I sometimes take the bus, Ceres is just fine and saves a lot if you don't mind a more complicated trip. You have to take a taxi to the South Terminal (p160), then Ceres liner to Moalboal (P110), then a trike to the beach area of Panagsama Beach (P50-70).
Changing Money is a nuisance in the Philippines. They just don't have much banking infrastructure like ATMs on every corner as here. I bring credit cards and cash in US100 bills in a money belt, and change to pesos in the big cities. I budget about US100 per day for food, lodging, diving and travel while there, and usually find that over what I need. There is no money changer in town, so change your money in Cebu City at the airport (best rate) or in Cebu City at the many money changers. In a pinch you can pay in US$, euros, or charge your dives and room at Savedra to your major credit card (Visa or MC). They do charge a fee for charges, since they have to pay a commission of 6%, not the typical 2% we have in US. I did that last time just to conserve ready cash.
Still all in all a great bargain, dives were US$21 with my own gear and the room was only P1800 including breakfast on the sea. What can I say, I'm going back for more soon....
In the photos below you see the view from my breakfast restaurant, Jaime chillin', the amazing sardine schooling, some of the other favorite fauna, and the airplane. Just a sampler, you never know what you will see....
