Sipalay is my favoite spot in the PI for beach time with my wife and doing a bit of diving. The diving can be pretty good and there is a couple good muck sites too. Mad Max is an abandoned pier with a muck bottom and great growth on the pilings, always a great dive.
My wife and I stay at Takatuka resort which has very interesting themed rooms. It's really a site to see. The best thing about the resort is the food. Good food in the PI can be hard to find but at Takatuka we can spend two weeks and love it all, the menu has cuisine from all over the world and it's all excellent. Takatuka is located on Sugar beach which is a really nice beach with great sunsets and swimming conditions and a few resorts.
Sipalay is a bit of a journey to get to, you can go with public transport or private driver. We've done both and prefer private driver from Bacalod.
Would I go just for the diving? Probably not, unless your just seeing one of the many dive spots the PI has to offer, we go there after we've been in other dive locations ( my wife is a non-diver) and it's time to chill on the beach instead of diving 3x day. We both get to enjoy great food, a great beach I can get some dives in when I get antsy.