I don't want to re-open a can of worms but I just want to comment that a recent discussion about an incident involving a high-priced exotic liveaboard has caused me to re-evaluate my previous assessment of the Blackbeard's cruises.
I have always thought of Blackbeard's as the "camping at sea economy liveaboard" - and that's true, but they may also offer some intrinsic, value-added features that I never considered before.
During the discussion about the other LOB, it came out that they were registered under a "flag of convenience" obtained from a land-locked country with minimal seafaring safety standards and that ships that carry such a flag often avoid ports with strict safety regulations.
I don't know anything about Blackbeard's registration, but their parent organization, All Star Liveaboards, is a US company and they operate in the Bahamas, a British territory - so it doesn't seem like they are trying to avoid ports with high safety standards.
It also came out that some LOBs advertise themselves as sailing vessels but they don't really sail. The sails are just romantic decoration that are only deployed on special occasions for photo shoots and publicity.
I know that it may vary with the weather conditions, but on my Blackbeard's cruise the crew did hoist the sails, set the rigging, and turn off the engine - and it was lovely. I had only been on tiny sailboats a few times in the past and it was a memorable experience to speed along on a big boat under sail and sky. It was so quiet except for the soothing sounds of the wind and sails.
Anyway, I can say with certainty that (weather permitting) you will get to sail on a Blackbeard's boat - and if they should ever develop engine trouble, I am confident that the crew will know how the navigate the boat using the wind. Which apparently is not the case with some other "sailing liveaboards".
So, I still prefer a private cabin with an ensuite head and shower and plenty of fresh water, but a Blackbeard's cruise is a nice, safe option for someone looking for a lot of good diving at a great price!
ETA: Since posting the above I have been informed that the Blackbeard's boats fly the flag of the Turks and Caicos - and they may not have the highest standards - so I may be wrong about my assumptions - again!