We just got back from La Ceiba last week & used Babieca on the days we dived. No frills, but good group of guys. They have one boat....small, fast panga. But, it was comfortable & had shade. We never went out with more than 6. We either did the SI on the boat or stopped at Naked Beach. All they provide onboard is water, so take your own fruit to get rid of the salt taste. You have to carry your own equipment to the dock, but they will set it up for you and they keep a bucket for cameras. One thing I enjoyed is they leave a little later in the morning, so you didn't have to get up super early & rush around trying to eat. Usually left around 9. Overall, it is pretty laid back.
Prices for guests are low, but if you want to go through the timeshare thing, you can get down to $45day for multiple days diving. We did it & got 2 days car rental along with some discounts for massages. We traded into La Cieba also, so we've learned how to say no to the pitch. One upside to going, we found out about the Whale Sharks & was able to arrange a trip there...we paid, but wouldn't have known about it.
Back to Babieca......they asked us every morning where we would like to dive, so if you had a specific reef you wanted to hit, it would be possible as long as conditions were favorable. They kind of had a time limit on dives, probably because there was only one DM, but we never hit that time. Everyone always hit their air limits first. 700 lbs was when you headed for safety stop. You didn't have to go up with your buddy however, if one of you got to 700. DM would deploy his sausage and everyone would just go to the 15ft knot when they needed to ascend.
One other thing.....don't do the AI. The restaurant is good, but nowhere near the quality of the ones in town. Unless you plan on drinking a WHOLE lot, there is no way you'll spend what they charge. The two meal/beverage plans are $70 & $90/day.
Mike