I've never dove there. I was born in Pensacola (while Dad was in the Navy; that Vietnam thing), and my wife and her friend like to do short 'girls' trips' to Panama City Beach (they did San Destin one year); an Invertebrate Zoology summer class field trip from my college days was somewhere down there. My high school class trip was to Ft. Walton Beach. One of my bucket list hopes is to someday dive the Oriskany (since it's associated with Pensacola, my birthplace; I could only do the control tower - I have no technical diving training).
I lived there for 12 years until 3 years ago, kinda miss the local diving...
I've never dived the Oriskany, it's a haul, 20-25miles which depending on the boat and conditions could be a few hours each way.
And yet...I have never dove the Emerald Coast. From reading on the forum I've come to associate it with long boat rides to dive sites, lower viz. on average and spear fishing (compared to the 'Cobalt Coast' (southeast Florida - where people also spear fish). And I associate Jupiter on the eastern coast as the 'sharky' place. Have I gotten the wrong impression of the Emerald Coast?
So long boat rides maybe out of Pcola due to it's large bay and marina locations I suppose. But out of Destin and PCB the boat rides aren't bad. My favorite spots out of Destin were to go with Scubatech and hit Whitehill and the liberty ship, maybe 20-30 minute boat ride. Whitehill is a limestone reef, a 4-5 foot ledge that runs along the sandy bottom and is pretty covered in fish with incredible diversity, you can check out my flickr or IG for some photos from panhandle diving. I've never not seen at least a sandbar shark cruising along it when I've done that site and loggerhead and nurse shark aren't uncommon and every year or so whale shark are spotted there, in fact last year a lucky group had an incredible encounter. Most dives on the liberty ship a few bulls have observed and occasionally come in for close looks. All that said, the South East coast of FL is definitely sharkier, however, I've seen far more sharks diving the panhandle than in the caribbean and hawaii. Also, almost forgot, the last few years the goliath have dramatically increased in abundance in the area. They'd become pretty common on most sites, again probably not quite as abundant as SE FL, but a high probability of a nice encounter.
The visibility can be pretty meh (15-20 and green) to 40-60 bluish when the current's are working in the area's favor.
If it's local diving, it's more than good enough. If it's a dive trip there's definitely better diving in FL, but if you want to see batfish, toadfish, frogfish, scorpionfish and other odd ball fish with near certainty it's probably on par with BHB.
If it's a beach trip, don't forget to dive too!